Jet Airways files prospectus for IPO

Our Corporate Bureau
08 January 2005

New Delhi: Jet Airways on Friday filed a draft prospectus with the Securities and Exchange Board of India, for its IPO.

Jet Airways (India) Ltd intends to offer 172,66,801equity shares of Rs10 each for cash at a price to be discovered through the book-building route.

Of the total offer, the company is making a fresh issue of 142,45,111 equity shares and the remaining 30,21,690 equity shares are an offer for sale by Tail Winds Ltd (TWL).

The offer would constitute 20 per cent of the fully diluted paid-up equity capital of the company, the airline said in a statement.

Jet Airways has reserved 1,200,000 equity shares for subscription by employees at the offer price. The net offer to the public would be 16,066,801 equity shares.

Indications are that the IPO would hit the market during last week of February if there are no delays in obtaining the requisite regulatory approvals, sources said.