Kingfisher Airlines falls post rights issue announcement

Kingfisher Airlines is trading lower by 2.2% at Rs 24 after the board of directors approved raising up to Rs 2,000 crore through a rights issue.

The board also amended the terms for the issue of optionally convertible debentures that were issued on January 3, the company said.

The stock opened at Rs 25 and touched the low of Rs 24 in the intra-day deals. As manay as 1,99,000 shares have changed hands on the BSE till 1030 hours.