No IPO of Kingfisher Airlines in near term: Mallya

Mumbai: UB Group chief Vijay Mallya today ruled out an initial public offer of Kingfisher Airlines in the near future, saying it would tap the market only when it felt its valuations were substantially higher.
"No IPO at this stage... the coming together of Kingfisher and Air Deccan would only add to share value and the UB group is keen to give value to its shareholders," Mallya told reporters here.
Air Deccan is already listed on the bourses.
Asked if he was looking at any more acquisitions, he said if any opportunity came his way, he would look at it, but "I cannot say how and when it would come."
"If you had asked me last week whether I was acquiring Air Deccan, the answer would have been no but everything moved fast in the last couple of days," he said.
Air Deccan chief Capt Gopinath said though the two airlines were exploring various possibilities, the decision to join hands was taken on May 30 after the two agreed on the model that Air Deccan's separate identity would be maintained.
01/05/07 PTI/The Hindu

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Categories: Air Deccan Jun 2007, Kingfisher Jun 2007