Jet Airways’ promoters are likely to sell further 1.54% stake in order to comply with SEBI norms to meet minimum 25% public shareholding norm. SEBI has relaxed the conditions for undertaking the sale through OFS route. On May 30, 2013, the entity offered to sell nearly 4.3 million shares via Offer-for-sale (OFS) mechanism and got bids for around 30 lakh scrips accounting for 3.5% stake in the company.
The company has reported a net loss of Rs 495.53 crore for the quarter ended March 31, 2013 as compared to a net loss of Rs 298.12 crore for the same quarter in the previous year. However, total income from operations has decreased by 2.95% at Rs 3921.92 crore for quarter under review as compared Rs 4041.16 crore for the quarter ended March 31, 2012.
