Jet Airways plans to complete its first tranche of fund raising of around $150-200 million over the next 3-4 weeks, a senior company official said.

"The initial tranche would be somewhere between $150 million and $200 million and would be finalised in the next 3-4 weeks," Jet Airways Senior Vice-President M Shiv Kumar told reporters here today.

BSE  |  NSE Price

Also Read   Related Stories News Now - Hotel Leelaventure to raise $130 mn via share sale - Jet to buy 26% stake in JV with Malaysian Airlines - Jet back in black with Rs 106 cr profit in Q3 - GHIAL signs three MoUs - Kraft to raise 7 bn pound via bonds to fund Cadbury buy - After a robust 2009, India Inc start '10 with Rs 5,800 cr QIPs

Also Read   Related Stories News Now - Markets end lower amid weak rupee, global cues - Tech Mahindra Q4 net rises three-fold to Rs 302 cr - Govt raises interest rate on GPF to 8.8% for 2012-13 - Jyothy Laboratories Q4 net up 22% at Rs 28 cr - Tata Global Beverages Q4 net dips 36% at Rs 54 cr More

The first tranche of funding would be through placement of shares with institutions to reduce debt, Kumar said.

The company's debt currently stands at Rs 14,200 crore and its debt-equity ratio at about 7:1, he said.

The private air-carrier's CEO Nikos Kordassis said the company's plan is to raise $400 million.

"Our plan eventually is to raise $400 million," Kordassis said.

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets end lower amid weak rupee, global cues - Tech Mahindra Q4 net rises three-fold to Rs 302 cr - Govt raises interest rate on GPF to 8.8% for 2012-13 - Jyothy Laboratories Q4 net up 22% at Rs 28 cr - Tata Global Beverages Q4 net dips 36% at Rs 54 cr

Tags : Jet Airways | fund raising | private air-carrier   Read Business news in  Advertisements -  Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol. -  Journey on, We are by Your Side. Click here to know more -  2 Lac Apartments, 1 Lac House / Plots. Click here -  Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol. -  The Best Seller is Also the No. 1 in Mileage. Click here -  Watch The Film Here. Click here to know more.. -  Leader in Passenger Car & Automobile Tyres. Click here -  1 billion in saving for Unilever without any tangles. -  A Brand New Server at a Price That Fits Your Budget. Click here -  Learn How One City is Running on FOOD SCRAPS. -  One Partnership Endless Possibilities. Click here to know more -  Helping doctors detect diseases earlier, saving costs & extending lives. -  36 Lakhs can get you a pool of Luxuries. Click here -  Which is the best plan for your daughter -  Check out the TRUE COLOURS of your Stocks, Now for FREE! -  One of the leading business schools in the world.Know More