Mumbai: Cash-strapped Kingfisher Airlines today said it has alloted equity shares against optionally convertible debentures (OCDs), a development that may help in saving interest outflow on such instruments.
In a filing to the BSE, Kingfisher said it has issued a total of 3.56 crore equity shares to Star Investments Pvt Ltd and Amar Nath Jhunjhunwala at a price of Rs 23.63 a share in lieu of conversion of debentures.
"The board has issued 30,300,000 equity shares to Star Investments Pvt Ltd arising out of conversion of 7,159,890 OCDs and 5,342,361 shares to Amar Nath Jhunjhunwala of 1,262,400 OCDs at a price of Rs 23.63 per share...," the company said in a statement.
In January last year, Kingfisher had allotted over 7 crore optionally convertible debentures (OCDs), having an interest rate of 8 per cent, to the entities.
"Post allotment, the paid up equity share capital of the company stands increased to Rs 613 crore from Rs 577 crore," the company said.
17/04/12 Economic Times
To Read the News in full at Source, Click the Headline
0 comments:
Post a Comment