Kingfisher caps FII holding at 3 %

December 13, 2012 11:34 pm | Updated October 18, 2016 01:16 pm IST - MUMBAI:

Kingfisher Airlines, which is in talks with various investors for equity infusion, has capped the FII investment limit at 3 per cent, a move to help facilitate foreign direct investment into the carrier.

The carrier, which is now grounded, said it had imposed FII cap, with a “view to keeping the company’s capital structure in readiness for transactions that may be identified in the future for benefit of all stakeholders.’’

In a BSE filing, Kingfisher said with immediate effect no FII, qualified foreign investor or other non-strategic foreign investment (excluding investment by NRI) shall be “permitted beyond its current level of 3 per cent or such other percentage that may be decided from time to time under intimation to the stock exchanges.’’ A resolution in this regard was passed at its board meeting held on December 12.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.