Kingfisher Airlines, owned by the liquor baron Vijay Mallya, is looking forward to raise more than $100 million. It would be doing so by issuing rights issues and also will go ahead with global depository receipts. This announcement was made by a senior executive of the company to a private newspaper of Thursday.

This is a little bit different from its earlier plans where the company had planned to go selling shares via rights issue first and then later going on by issuing GDRs. The amount then too was $100 million.

In an interview given to Dow Jones Newswires, UB Group Chief Executive Officer Ravi Nedungadi said that the company is now interested more in global offering rather than going for rights issue. This is being done since the timeline involved in GDRs are shorter.

He also said that the company has not decided as to how much money it will raise through this but it would be more than the above said amount.

Meanwhile, the airline has been allowed to go on seven new international routes which have Bangkok, Colombo and Dubai as the destinations.