Kingfisher to decide on $100-mn GDR issue on Tuesday
Kingfisher Airlines is likely to decide on its fund-raising programme through the Global Depository Receipts (GDRs) route at its Board meeting on Tuesday.
By PTI |
MUMBAI: Vijay Mallya-owned private air- carrier, Kingfisher Airlines, is likely to decide on its fund-raising programme through the Global Depository Receipts (GDRs) route at its Board meeting on Tuesday.
"The Board of Kingfisher (Airlines) is to consider equity raising at a meeting tomorrow," UB Group (the promoter of the airline) Chief Financial Officer Ravi Nedungadi said here on Monday.
Nedungadi, earlier last month, said that the airline had plans to hit the market by the end of the current quarter.
The airline plans to raise $100-million via GDR to reduce its debt, which stands at Rs 6,000-crore as on March 31 this year.
The company has appointed Citi, JP Morgan and CLSA as its merchant bankers.
The proposed fund-raising of $100-million would be in addition to the $400-million which the company has been mulling to raise through the private equity route for sometime now.
"The Board of Kingfisher (Airlines) is to consider equity raising at a meeting tomorrow," UB Group (the promoter of the airline) Chief Financial Officer Ravi Nedungadi said here on Monday.
Nedungadi, earlier last month, said that the airline had plans to hit the market by the end of the current quarter.
The airline plans to raise $100-million via GDR to reduce its debt, which stands at Rs 6,000-crore as on March 31 this year.
The company has appointed Citi, JP Morgan and CLSA as its merchant bankers.
The proposed fund-raising of $100-million would be in addition to the $400-million which the company has been mulling to raise through the private equity route for sometime now.
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