 "Times of India (New Delhi, India)")
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UB to raise $400m for airline, spirits ventures.
From:
Times of India (New Delhi, India)
| Date:
November 30, 2005
| COPYRIGHT 2005 The Times of India. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.Copyright information
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Nov. 30--NEW DELHI -- The UB Group is preparing to raise over $400 million through private equity infusion and a public float over the next 6-8 months to fund the group's mega expansion programme in the airline and spirits businesses.
UB group chairman Vijay Mallya said while over $200 million would be raised through an IPO in Kingfisher Airlines, the liquor company United Spirits will go for a private equity placement to raise another $200 million in early 2006.
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