Aviation

SBI's Rajnish Kumar discusses Jet Airways' bailout plan with Sebi chief, says report

Updated : January 24, 2019 08:47 AM IST

SBI has sought the regulator’s views on the possibility of Sebi modifying its pricing rule on preferential and open offer guidelines, said the report citing Sebi sources.

The move is seen as readying the ground for a possible bailout of Jet by Abu Dhabi-based Etihad Airways, the report said.

Rajnish Kumar, chairman of State Bank of India (SBI) chairman, spoke to Securities and Exchange Board of India (Sebi) chief Ajay Tyagi on Jet Airways’ bailout plan, Business Standard .

SBI has sought the regulator’s views on the possibility of Sebi modifying its pricing rule on preferential and open offer guidelines, said the report citing Sebi sources.

The move is seen as readying the ground for a possible bailout of Jet by Abu Dhabi-based Etihad Airways, the report said.

Etihad has proposed to invest in Jet only at Rs 150 per share, lower than the current share price of Rs 265 price. CNBC-TV18 had reported the same on January 16.

In addition to this, the Gulf airline said it will neither pledge its holding in Jet Airways with domestic lenders nor issue any corporate guarantee for any loan restructuring, the report said.

Eithad has also sought the complete exit of the Goyal family from the airline. CNBC-TV18 had reported the same earlier.

SBI's Rajnish Kumar discusses Jet Airways' bailout plan with Sebi chief, says report

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