Kingfisher Airlines to consider fund raising on Aug 25, 2011

A meeting of the Board of Directors of Kingfisher Airlines Ltd will be held on August 25, 2011, to consider raising further capital by issue of equity shares and / or preference shares and / or Global Depository Receipts (GDRs) and / or such other instruments and in such manner including by way of rights issue and in such amount as may be decided by the Board of Directors.

The Board will also consider variation of the terms of the 70,931,985 8% optionally convertible debentures issued by the Company.

The stock closed the day at Rs.26.50, down by Rs.0.25 or 0.93%. The stock hit an intraday high of Rs.27.30 and low of Rs.26.

The total traded quantity was 4.57 lakhs compared to 2 week average of 5.96 lakhs.

Source : Equity Bulls

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