PSBs, govt fund to own 51% in restructured Jet

Restructured Jet Airways will effectively be 51% government fund and PSU banks-owned. SBI-led lenders will convert Rs 600 crore loan into equity at Re 1, which will take their stake to 32%. National Investment and Infrastructure Fund (NIIF), an investor-owned fund manager anchored by the government of India, will pick up 19.5% and invest Rs 1,400 crore.

from Times of India http://bit.ly/2DP98Bs