Naresh Goyal may bid for stake in Jet

Former chairman of the airlines has pledged 26% stake with PNB last week: Former Jet Airways chairman and founder Naresh Goyal is likely to submit initial bids for stake in the airline on Thursday, sources said.

SBI Caps, which invited Expression of Interest (EoI) for stake sale in Jet Airways on April 8, has already extended the date for submission of bids to April 12 from April 10 earlier.

SBI Caps has the mandate for Jet Airways' sale on behalf of the SBI-led consortium of domestic lenders to the debt-ridden private carrier. It has put between 31 per cent and up to 75 per cent in the airline for investors.

"Naresh Goyal is expected to submit initial bids for Jet Airways sale today (Thursday)," a source close to Goyal said.

The bidding norms allow Goyal to participate in the sale process. Goyal's response on the issue was awaited.

SBI chairman Rajnish Kumar last month said, "It could be financial investor, it could be airline... including Naresh Goyal himself or Etihad. Nobody is barred from bidding or taking over the airline as per the rule."

Meanwhile, the Jet Airways founder pledged 26 per cent stake in the ailing airline as security for loans from Punjab National Bank.

Jet Airways said that Goyal has pledged over 2.95 crore shares or 26.01 per cent stake with PNB.