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Deccan Aviation raising Rs 1,600 cr
Coimbatore, Feb 22
Deccan Aviation Ltd's board of directors has decided
subject to approvals to raise Rs 1,600 crore by way
of domestic or overseas offerings to institutional
investors, NRIs, Indian public companies, corporate
bodies or approved mutual funds. The board resolved to consider banks, insurance
companies, pension funds and qualified institutional
buyers for allotment, it said. The board also decided,
subject to approval of the shareholders, increase in
authorised share capital from Rs 150 crore to Rs 500
crore and consequential amendments to the
Memorandum and Articles of Association of the
company. - Our Bureau
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