Jet Airways chairman Naresh Goyal, on Thursday, picked up nearly 37 per cent stake in the company from another promoter entity for about Rs.1,670 crore, and took his direct stake in the private carrier to about 66 per cent.

The shares were purchased from Jet Airways’ current main promoter entity Tail Winds.

The transactions are part of Jet Airways’ plan to make Mr. Goyal its main promoter with at least 51 per cent stake in his personal capacity. Jet’s board and shareholders have already approved the allotment of shares on a preferential basis for sale of 24 per cent stake to Abu Dhabi-based Etihad Airways.

After the completion of Jet-Etihad deal, Jet has proposed to have 51 per cent stake with Mr. Goyal, 24 per cent with Etihad and the remaining 25 per cent with the public. OFS for sale of shares to public investors undertaken by the company on Thursday could get only 69 per cent subscription. —PTI