Travel company Cox & Kings (I) Ltd plans to raise up to Rs 2,000 crore to strengthen its business globally and for acquisitions.

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The funds will be raised through a mix of debt and equity and will largely be used to pursue inorganic growth in the domestic and international markets.

“The plan includes investing in existing businesses, launching new ones and making acquisitions globally. Such plans demand that the company augment its fund position so that as and when opportunities arise they can be raised immediately,” a company official said.

Peter Kerkar, executive director, Cox & Kings, had told DNA Money earlier this month, “We are looking at transformational acquisition targets both in India and overseas. In the current business environment, international markets look much promising in terms of valuations. We are looking at assets in markets like Australia, US, Canada and UK.”

The company is seeking shareholder approval for raising up to Rs 1,000 crore through issue of equity shares, depository receipts and appropriate securities.

The securities will be issued to foreign investors, foreign institutional investors and qualified institutional buyers. The company is also seeking shareholder approval for increasing the FII investment limits up to 74% of the paid-up equity capital.

Also, the company management is seeking restructuring of its borrowing limits. For this, it intends to seek an authorisation for its board of directors allowing it to borrow an aggregate of Rs 1,000 crore.

The board of directors of the company has been authorised to invest up to Rs 1,500 crore over and above 60% of the paid-up share capital and free reserves or 100% of the free reserves.

This can be done by way of subscription, purchase of equity or debentures, grant of loan or providing security to another company.