Why debt-hit Jet Airways is selling majority state for Re 1

A group of lenders led by State Bank of India has proposed taking a 50.1 percent stake for 1 rupee through the issuance of 114 million new shares, a maneuver that’s allowed under a framework outlined by the Reserve Bank of India last year.

from Hindustan Times - topnews https://ift.tt/2SKIsMC