Jet Airways gains,chairman Naresh Goyal sells partial stake

Dealers say bulk sale is seen as a step in completion of a 24 per cent stake sale to Etihad Airways.

Written by Reuters | Published:November 19, 2013 10:26 am

Shares in Jet Airways (India) Ltd gain 3 per cent after Tail Winds Ltd,a private investment arm owned by the carrier’s promoter and chairman Naresh Goyal,sold about 7.9 per cent of his 75 percent holding in Jet for around 2.10 billion rupees ($33.6 million) on Monday.

Tail Winds sold 2 million shares of Jet Airways for 310.07 rupees a share,NSE data shows,which shows Deutsche Securities Mauritius Ltd buying 1.26 million shares for 310 rupees a piece.

Dealers say the bulk sale is seen as a step in the completion of a 24 percent stake sale to Abu Dhabi’s Etihad Airways.

India’s competition regulator on Nov. 12 approved Etihad’s $325 million deal to buy a 24-percent stake in Jet Airways,the regulator said on its website.

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