Shares of Kingfisher Airlines gained by 1% to Rs48.20 after the company announced that the board of directors passed an enabling resolution for an additional fund raising through various instruments including GDRs, upto an amount of US$100mn, subject to the approval of the shareholders.
This is over and above the decision taken at the last board meeting held on July 28, 2009 for induction of capital for an amount not exceeding Rs5bn by way of rights issue of Equity shares, as already intimated.
It was also consequentially decided at the board meeting held on August 31, 2009, to seek, the approval of the shareholders for increase in Authorised Share Capital of the Company from Rs5bn to Rs10bn and consequential amendments to the Memorandum and Articles of Association of the Company.