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.

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