Jet Airways promoter Tailwinds Limited is said to be looking at seeking an exemption from the Securities and Exchange Board of India (Sebi) for divesting equity shares of the company in order to comply with the minimum 25 per cent public floating requirement prior to the proposed preferential allotment of shares to Etihad Airways.In an application to the Foreign investment Promotion Board (FIPB), Etihad Airways said, “Tailwinds Limited, an existing promoter of the Company (Jet Airways), will seek an exemption from SEBI for divesting equity shares of the company in the manner approved by SEBI in order to comply with the minimum 25 per cent public floating requirement prior to the proposed preferential allotment of equity shares to the investor (Etihad Airways).”