IndiGo seeks shareholder nod to up borrowing cap to Rs 20,000 cr

New Delhi, December 14, 2017:At an executive meeting earlier on Thursday, both Brazil and China voiced their support for the deal

No-frills carrier will seek shareholders’ approval for increasing its to Rs 20,000 crore according to

The current cap is Rs 15,000 crore. Increasing the is among the proposals for which the airline will be seeking nod at the annual general meeting to be held on September 21.

“Considering the existing borrowing limits of the company with various banks/ financial institutions and in order to meet the financial requirements for growth plans of the company, the borrowing limits previously sanctioned by the shareholders are proposed to be increased to Rs 20,000 crore,” the airline said.

According to the reports published in among others, proposals for re-appointment of as chairman and non-executive independent director as well as that of as non-executive independent director will be put up for shareholders’ approval, according the notice of the meeting.

The stock closed almost flat at Rs 880.20 on the BSE.

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