Private sector carrier Kingfisher Airlines said on Friday its board has approved raising up to Rs 20 billion through a rights issue of shares.
The board also amended the terms for the issue of optionally convertible debentures that were issued on January 3, the airline said.
Earlier this year, the carrier had cut its debt through a debt restructuring process under which the airline had issued 116.3 million shares to a consortium of 13 banks led by State Bank of India (SBI), after conversion of compulsory convertible preference shares at 64.48 rupees a share.
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