Tatas Group raise debt funds for AirAsia India, infuse equity into Vistara
MUMBAI: Tata Group is raising debt funds for low fare carrier AirAsia India and has infused equity into premium airline Vistara, documents filed with the Registrar of Companies show, to help overcome the disastrous impact of the pandemic on aviation.
In AirAsia India’s latest board meeting, joint venture partners Tata Sons and Malaysian low fare carrier AirAsia Berhad decided to raise ₹300 crore by issuing optionally convertible redeemable debentures. Prior to that, in a Vistara board meeting, promoters Tata Sons and Singapore Airlines were together allotted fresh equity shares worth ₹75 crore. The business decisions were sourced from RoC by business intelligence company Veratech for ET.
