Cox & Kings (CKL) the international & domestic travel services company, announced that the board of directors of the company at its meeting has approved raising of funds for an amount not exceeding Rs 12 billion. The fund raising will be through issuance of securities including equity shares or equity linked securities.

It is including through a qualified institutions placement under the Securities and Exchange Board of India and/or issuance of equity shares through convertible bonds, depository receipts and/or any other instrument convertible or exchangeable into equity shares, and/or other securities with or without warrants, to eligible investors subject to the approval of the members of the company pursuant to the provisions of Section 62(1)(c) and other applicable provisions of the law.

Shares of the company gained Rs 7.1, or 2.22%, to trade at Rs 326.85. The total volume of shares traded was 118,571 at the BSE (12.38 p.m., Thursday).