Top management of lesser known Darwin Group, which was one of the unsolicited bidders for Jet Airways, met officials of SBI Caps to discuss its proposal.
“SBI Caps had called us. We wanted to understand the liability and assets of Jet Airways,” he told reporters after the meeting. The consortium of SBI-led seven lenders, which owns 51 per cent in the airline, has offered to sell up to 75 pc stake in the airline, which stopped flying around mid last month.
Jet owes over Rs 8,000 crore to the lenders. SBI Caps had early last month invited expressions of interest between April 8 and 12, on behalf of the lenders to sell their stake in the carrier. It received one solicited bid from the airline’s investment partner Etihad Airways, besides two unsolicited on May 10, which was the last date of submission of financial bids.
The bids were examined by the lenders on May 13 and they found Etihad’s bid conditional. Ganpule said though the Group had done due diligence before submitting the financial bid, it wanted some more financial details that were not publicly available. He said there is limited information available about the airline in Registrar of Companies and other public sources and has requested SBI Caps to provide more details about the actual liability of the airline.