Kingfisher approves INR2000 crore rights issue to pare debt
Contributors are not employed, compensated or governed by TD, opinions and statements are from the contributor directly
The board of Kingfisher Airlines approved raising INR2,000 crore through a rights issue. The decision came after the airline’s attempt to raise US$350 million by selling global depository receipts failed to attract investors. The financially-strapped airline, which is in the midst of a debt restructuring is seeking to raise INR2,000 crore, substantially higher than its current market cap of INR1,172 crore, reportds the Economic Times.
Comments are closed.