Jet Airways trades ~5% up after CoC calls for fresh bids

The insolvency resolution professional (IRP) of Jet Airways on Monday called for fresh bids. The 6th meeting of Jet Airways’ Committee of Creditors (CoC), held on December 17 passed a resolution to look for fresh expression of interest (EoIs).
The Mumbai bench of National Company Law Tribunal (NCLT) on Friday approved the extension of Jet Airways’ insolvency resolution period by 90 days. The NCLT also directed CoC to hasten their decision on seeking fresh EoIs after two new investors showed interest in the airline.
So far, Synergy Group is the only potential bidder for the grounded airline, which has been shut since April 2019.
Jet Airways (India) Ltd is currently trading at Rs26.95 up by Rs1.25 or 4.86% from its previous closing of Rs25.70 on the BSE.
The scrip opened at Rs26.85 and has touched a high and low of Rs26.95 and Rs26.80 respectively. So far 52,399 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs291.95cr.

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