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Jet seeking investors' nod to convert loans into equity

Jan 28, 2019 18:09 IST

Jet Airways on Monday sought for shareholders' approval to convert loans into equity through a special resolution to raise its authorised share capital to 2,200 crore rupees from the current 200 crore rupees. The move will help the Naresh Goyal-owned carrier to issue fresh shares to lenders as Etihad seeks more stake in the airliner to infuse fresh capital and pledge shares for Jet. The company is also asking to raise existing 18 crore equity shares to 68 crore and 2 crore preference shares to 125 crore.

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