Jet Airways files IPO papers

Jet Airways today filed a draft prospectus with the Securities and Exchange Board of India (SEBI) for its proposed initial public offer (IPO).

The country's leading private airline will offer 1.72 crore equity shares of Rs 10 each for a price to be offered through the bookbuilding process, merchant banking sources said.

Of the total offer, the Naresh Goyal-promoted airline is making a fresh issue of 1.42 crore equity shares and the balance 30.21 lakh shares are on offer for sale by Tailwinds, one of the promoters of Jet Airways, the sources added.