Jet Airways slumps 6% in morning trade
Quotes

Jet Airways slumps 6% in morning trade

Last Updated: Friday, May 31, 2013, 13:00
 
 Comment 0
 
Jet Airways slumps 6% in morning trade
Mumbai: Stocks of Jet Airways on Friday fell as much as six percent in morning trade on the bourses as the company's offer to sell over 43.17 lakh shares via OFS route got subscription for just 70 percent.

The issue received 29,86,022 bids, as against 43,17,697 shares on offer, according to the NSE data.

Reacting to this shares of the company opened on a weak note at Rs 508.80, then slumped 5.66 percent to an intra-day low of Rs 498.60 on the BSE.

Similar movement was witnessed on the National Stock Exchange as well, where the stock opened at Rs 505, then fell 5.59 percent to an intra-day low of Rs 498.90.

Jet Airways-promoter Tail Winds had set the floor price at Rs 510 a share for 5 percent stake-sale through the offer for sale (OFS) route which was aimed at reducing promoters' stake to meet SEBI guidelines of 25 percent public float.

As per March shareholding data, Goyal and other promoters hold 80 percent in Jet Airways.

As part of the OFS and Etihad deal, last week Goyal had bought back around 28 percent holding from the promoter company Tail Wind, which is fully-owned by him.

PTI




First Published: Friday, May 31, 2013, 13:00


Comments


comments powered by Disqus
Google I/O 2014
Google I/O 2014
Maker Faire @ White House
Maker Faire @ White House
Amazon unveils 3D `Fire` smartphone
Amazon unveils 3D `Fire` smartphone
RIL`s 40th AGM
RIL`s 40th AGM
Samsung Galaxy Tab S
Samsung Galaxy Tab S

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved