KIAL plans to issue shares worth Rs 300 million for additional funds requirement

Kannur International Airport Limited (KIAL) is considering issuing shares worth Rs 300 million to generate additional funds. An investor will have to subscribe to a minimum 500 shares, priced at Rs 100 a piece. The reluctance of the Airports Authority of India to increase its equity stake in KIAL from the present 10 per cent has prompted the management to consider other sources of funding.