Jet Airways shares on Tuesday gained more than 2.59 per cent during early trade after announcement that promoter Naresh Goyal would prune his stake in the carrier to meet market regulator Sebi's mandatory conditions under public float rules.

Jet Airways recently hit a stake-sale agreement with UAE airline company Etihad. As per the agreement, Etihad will buy a 24 per cent stake in Jet Airways for $379 million.

As per Sebi public float rules, public investors must have a minimum of 25 per cent stake in a company.  But, public investors, including retail and domestic institutions, currently hold only around 20 per cent stake in Jet Airways.

Mr. Goyal's Tail Winds Ltd currently owns a 79.99 per cent stake in the carrier. The company has plans to offload up to 12.9 per cent of its stake in the company. It could offload the stake in one, two or more transactions. Following the stake sale to Etihad and public share sale, Mr. Goyal's stake in the carrier will slip to 51 per cent; while public investors' stake would climb to 25 per cent.

Tail Wind reportedly also announced that it would not own any shares in the carrier and that all shares would be transferred to Mr. Goyal.

The announcement provided a big boost to Jet Airways stock, which gained more than 2.5 per cent on the back of reports about Mr. Goyal's decision to sell a portion of his stake. However, the stock finally closed at Rs 621.35 a share, up 1.93 per cent, on the BSE.