Kingfisher Airlines zooms 15% on stake sale buzz

MUMBAI: Shares of Kingfisher Airlines were up nearly 15 per cent on media reports that it was targeting an equity infusion of Rs 2000 crore through a stake sale to strategic investors.

The infusion would happen upon "regulation change" and the equity investment will be used to de-leverage the balance sheet, the company told investors recently.

The company said that a likely change in legislation of 25 per cent investment by foreign airlines is expected to bring strategic partners eyeing a play in the Indian market which is expected to be the fastest growing market in the next few years.

At 11:15 am, the company's shares were up 9.08 per cent at Rs 35.45 on the BSE.