Deccan Aviation may raise Rs 1,600cr

The board of directors of Deccan Aviation, which met today, approved a proposal to raise up to Rs 1.600 crore via issue of securities to qualified institutional buyers and/or GDRs/ADRs/FCCBs.

According to a release issued by the company to the BSE today, the meeting also approved a proposal to raise the authorised share capital from Rs 150 crore to Rs 500 crore subject to approval of the shareholders.