SBI to take 15% equity stake in Jet post debt switch: Report

  1. home
  2. > business
  3. > SBI to take 15% equity stake in Jet post debt switch: Report
replay trump newslist
up NEXT IN 5 SECONDS sports newslist
tap to unmute
00:00/00:00
NaN/0

SBI to take 15% equity stake in Jet post debt switch: Report

Jan 29, 2019 14:57 IST

The State Bank of India is poised to own at least 15 per cent of stake in debt-laden Jet Airways after lenders convert part of their loans into equity. According to a Bloomberg report, lenders led by SBI will hold 30 per cent stake in the carrier after debt conversion while UAE-based airliner, Etihad Airways' stake may grow over 40 per cent from current 24 per cent as they infuse more equity. The report also suggested that Naresh Goyal's stake may go below 20 per cent from the current 51 per cent after issuance of fresh shares. Jet shares plunged from day's high on the news.

Business