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Kingfisher Airlines on Thursday said it had formally converted compulsorily convertible preferential shares of banks and its two promoter companies and allotted them equity shares totalling 23,18,70,340 (about 23.18 crore).
The issue committee of the board met in the day to allot the shares to a 13-bank lender consortium and to the promoters — Kingfisher Finvest India Ltd and United Breweries (Holdings) Ltd.
The conversion was made at Rs 64.48 a share.
Approval & allotments
The move was approved in principle on December 24, 2010, the company said in a stock exchange notification.
The paid-up equity capital of the company increases from Rs 265.9 crore to Rs 497.78 crore
The banks including SBI, IDBI Bank and ICICI Bank were allotted 11,63,30,635 (about 11.63 crore) shares.
The promoter companies got 11,55,39,701 (about 11.55 crore) shares after conversion of both 7.5 per cent CCPS and six per cent CCPS.
Prior to this conversion, the Indian promoter holding was 55.48 per cent.
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