Shares of Jet Airways has surged by 6.35% to Rs 394.40 today following the news that the Securities and Exchange Board of India has approved Jet Airways’ proposed sale of 24% stake to Etihad Airways. After studying the revised deal structure, Sebi was of the opinion that the Rs 2058 crore transaction would not trigger a mandatory open offer for purchase of shares from public shareholders and Etihad would not be considered a promoter entity in Jet Airways.
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