Vijay Mallya-owned private air- carrier, Kingfisher Airlines, is likely to decide on its fund-raising programme through the Global Depository Receipts (GDRs) route at its Board meeting tomorrow.
"The Board of Kingfisher (Airlines) is to consider equity raising at a meeting tomorrow," UB Group (the promoter of the airline) Chief Financial Officer Ravi Nedungadi told PTI here today.
Nedungadi, earlier last month, said that the airline had plans to hit the market by the end of the current quarter.
The airline plans to raise $100 million via GDR to reduce its debt, which stands at Rs 6,000 crore as on March 31 this year.
The company has appointed Citi, JP Morgan and CLSA as its merchant bankers.
The proposed fund-raising of $100 million would be in addition to the $400 million, which the company has been mulling to raise through the private equity route for sometime now.
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