The State Bank of India (SBI) chairman is set to meet the Securities and Exchange Board of India (SEBI) chief on the proposal to revive Jet Airways, sources told CNBC-TV18.
Etihad Group CEO Tony Douglas earlier wrote to SBI, saying that the airline will invest in Jet only at Rs 150 per share. Etihad wants an exemption from Sebi on preferential pricing and open offer guidelines in order to invest more money in jet for its bailout.
If one goes by the high-low of the last six months, the offer should have been Rs 262, however, it stands much lower now.
"Jet Airways will not be able to continue funding its operation beyond the current week and Etihad is willing to immediately release $35 million if their conditions are met," Douglas had written.