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Our Bureau

Mumbai , Feb. 8

THE price band of Jet Airways' IPO has been fixed between Rs 950 and Rs 1,125.

The issue opens for bids on February 18 and closes on February 24.

The total offer is for 1,72,66,801 equity shares of Rs 10 each for cash at a premium to be decided through a book-building process.

On the total public offer, the airline will make a fresh issue of 1,42,45,111 equity shares and balance 30,21,690 equity shares on offer for sale by Tail Winds Ltd.

Of the total offer, Jet Airways has reserved 12,00,000 equity shares to be allotted to employees and balance 60 per cent will be reserved to be allotted to qualified institutional investors.

Another 15 per cent has been reserved for non-institutional investors. The balance 25 per cent will be allotted to retail investors on a proportionate basis.

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