New Delhi: Jet Airways will seek shareholders' approval next month to raise up to USD 400 million (over Rs 2,500 crore) through issue of securities on private placement basis.
The airline plans to issue "secured and/or unsecured, listed and/or unlisted non-convertible debentures and/or subordinated debt instruments and/or other debt securities or bonds".
Overall value of these securities would be up to USD 400 million, according to the notice send by the carrier to shareholders for an extraordinary general meeting to be held on May 16.
The proposed amount would be within the company's overall borrowing limit.
Besides, the carrier would seek approval for appointing Diwakar Gupta as an independent director on its board.
Shares of the company fell nearly two per cent to close at Rs 409.85 on the BSE.
