After toying with the idea for over a year, the UB group-promoted Kingfisher Airlines has abandoned the plan for an IPO. The company was planning to raise about USD 200 million through an IPO in 2006. But, it is now having second thoughts about the viability of the option, sources said, reports The Economic Times.
A UB source said with the volatility in the market, the company would not consider this route for at least another year.
Kingfisher Airlines has the paid-up capital of over Rs 370 crore (Rs 3.70 billion). Group shareholding in the company, a 100% UB group subsidiary, will be diluted only when the company gets a proper valuation, sources said.
07/07/06 Moneycontrol.com
To Read the News in full at Source, Click the Headline
Friday, July 07, 2006
Home »
» Kingfisher shelves IPO plan
Kingfisher shelves IPO plan
Friday, July 07, 2006
Related Posts:
Aerobatic team Surya Kiran set to fly into sunsetNew Delhi: The Surya Kiran aerobatic team (SKAT) of the Indian Air Force (IAF) will perform for the last time at the biennial air show, Aero India, in… Read More
Jagson Airlines to operate daily flights to HimachalShimla: Jagson Airlines will start a regular flight between Delhi and Himachal Pradesh from next month, an airline official said Tuesday.'From Feb 15,… Read More
Red tape delays Chandigarh ILS takeoffChandigarh: When the Instrument Landing System (ILS) was finally installed at the city airport last month, it was expected to bring an end to fog-rela… Read More
Copter crash: Major was set for aero showVizianagaram: Bhanu Chander Gupta's parents were waiting to watch his aerobatics display at the Aero India show in Bangalore in a few days. Little did… Read More
Kingfisher may face higher cost pressuresBangalore: Kingfisher Airlines could face additional cost pressures as insurance premiums may harden for the airline once it comes up for renewal in J… Read More
0 comments:
Post a Comment