Jet Airways, Kingfisher to raise Rs 2,500 cr

Mumbai: Jet Airways and Kingfisher Airlines will raise $500 million (around Rs 2,500 crore) between them to meet expansion plans and working capital requirements.
Of this, Jet will account for a lion's share with $400 million (Rs 2,000 crore) and will explore various financing options such as QIP, GDRs, ADRs and FCCBs. The company will hold an extraordinary general meeting in Mumbai on September 24 to seek shareholder approval for this move.
The Vijay Mallya-promoted Kingfisher plans to raise $100 million (Rs 500 crore). Earlier in July, the Kingfisher board had already decided to raise Rs 500 crore through a right issue.
01/09/09 Business Line/Sify

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Categories: Jet Airways Sep 2009, Kingfisher Sep 2009