Jet gets board nod for share reclassification

However, the overall authorised share capital would remain unchanged at Rs 200 crore, it added.

Leading private sector airline Jet Airways on Wednesday said its board of directors has approved the reclassification of the company's authorised share capital.

HT Image

The company informed the Bombay Stock Exchange that its authorised share capital of Rs 200 crore -- consisting of 13 crore equity shares of Rs 10 each and 7 crore preference shares of Rs 10 each -- would be reclassified into 18 crore equity shares and 2 crore preference shares of Rs 10 each.

However, the overall authorised share capital would remain unchanged at Rs 200 crore, it added.

The reclassification plan was approved by the board at a meeting held on July 29 and is subject to the approval of shareholders at the upcoming Annual General Meeting.