 "Cox & Kings")
The Kerkar family, promoters of leisure tour operator Cox & Kings, have infused an additional Rs 168 crore into the company.
On Wednesday, the company notified to the stock exchange the issue of 7.2 million equity shares to promoter group entity Standford Trading Private Limited (STPL) following conversion of share warrants issued to it earlier.
The additional equity infusion and issue of shares comes two days after the tour operator posted Rs 305 crore net loss in the fourth quarter FY16.
Last January the company had issued 7.2 million convertible preferential warrants to STPL at an issue price of Rs 309.82 per share 20 per cent of the issue price was paid at the time of allotment last January and the balance was paid now. On Wednesday the company's finance committee made the allotment of 7.2 million shares of Rs five each to promoter group entity.
