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Jet Airways surges on plan to raise $400 million

23 Apr 2015 Evaluate

Jet Airways (India) is currently trading at Rs. 420.00, up by 10.15 points or 2.48 % from its previous closing of Rs. 409.85 on the BSE.

The scrip opened at Rs. 414.00 and has touched a high and low of Rs. 427.00 and Rs. 414.00 respectively. So far 97259 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 543.50 on 02-Feb-2015 and a 52 week low of Rs. 203.50 on 26-Sep-2014.

Last one week high and low of the scrip stood at Rs. 475.00 and Rs. 408.00 respectively. The current market cap of the company is Rs. 4786.43 crore.

The promoters holding in the company stood at 51.00 % while Institutions and Non-Institutions held 17.22 % and 31.78 % respectively.

Jet Airways is seeking shareholders’ approval next month to raise up to $400 million through issue of securities on private placement basis.

The airline is planning to issue secured and/or unsecured, listed and/or unlisted non-convertible debentures and/or subordinated debt instruments and/or other debt securities or bonds. The proposed amount would be within the company's overall borrowing limit.

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