Darwin Platform Group submits bid request for Jet Airways; Likely to invest ₹14,000 crore in the airline

DPG representatives told SBI Capital Markets that they could invest up to ₹14,000 crore in the airline and sought details of the company’s assets, liabilities, and litigation

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Mumbai resident, Ajay Harinath Singh, recently submitted an offer to invest in the grounded Jet Airways. The bidder has claimed to be running diverse businesses across 11 countries. Ajay Singh's Darwin Platform Group (DPG) is the third unsolicited bidder to display willingness to invest for the revival of the now-defunct airline. Others consist of former flight steward-turned-entrepreneur Jason Unsworth and London-based investment firm Adi Partners.

Earlier, representatives from Darwin Platform had set up a meeting with the executives of State Bank of India Capital Markets on May 15, Wednesday. The meeting comes a day after top-level exits at Jet, thus, pointing towards the airline's bleak future.  

Also Read: Jet Airways' Mumbai Office To Be Auctioned

Lenders had asked the bidders to submit their bids last month and among qualified parties, only Etihad Airways submitted a conditional investment offer. The airline had laid the condition that any investor willing to invest more than 5 per cent in Jet should have its approval.

After which, lenders have continued to seek investors to revive the airline and have been meeting those making unsolicited bids.

Meanwhile, DPG representatives told SBI Capital Markets that they could invest up to ₹14,000 crore in the airline and sought details of the company’s assets, liabilities, and litigation. 

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