As per the reports, lenders may convert ~Rs1,000cr of debt into equity and are likely to participate in the equity infusion through a rights issue as part of the deal.
Additionally, promoter Naresh Goyal and Etihad Airways, which owns a 24% in the company, will infuse around Rs2,000cr into the company, media reports added.
Further, the government-owned infrastructure fund National Infrastructure Investment Fund (NIIF) is likely to buy a 19% stake for Rs1,500cr in the company. Along with the NIIF, banks will own a 51% stake in the company.
Moreover, Etihad Airways is likely to inject ~Rs1,450cr to maintain its stake at 24%, and promoter Naresh Goyal would bring in Rs550cr to hold around 21-22%. Goyal has already infused Rs250cr into the airline, reports added.
Media reports also stated that the SBI-led consortium would release ~Rs550cr in the next 15 days to bridge the immediate funding gap.