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Friday August 7, 03:00 PM
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Kingfisher gets 5-bln-rupee loan from SBI - jr finmin
NEW DELHI (Reuters) - Kingfisher Airlines Ltd had sought a 10-billion rupee loan from State Bank of India (SBIN.NS : 2242.9 -11.75
) and has been sanctioned half that amount, a junior finance minister said on Friday.
The bank has sanctioned the loan on specific terms and conditions, Namo Narain Meena told Parliament in a written reply, but did not provide details.
Cash strapped Kingfisher Airlines has posted a net loss of 2.4 billion rupees in April-June and has appointed bankers to help it raise up to 5 billion rupees.
At 2:06 p.m., shares in Kingfisher were down 3.23 percent at 46.50 rupees in a Mumbai market which was down 2.2 percent.
(For more news on Reuters Money click http://in.reuters.com/money)
