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LKP Finance offloads Kingfisher shares worth Rs 5 crore

LKP Merchant Financing, which has been regularly selling shares of Kingfisher Airlines,sold another 53.41 lakh shares of the debt-laden carrier for nearly Rs 5 crore.

According to bulk-deal data available with the stock exchanges, LKP Merchant Financing offloaded 53,41,472 shares of Kingfisher Airlines for Rs 9.04 apiece, valuing the deal at Rs 4.82 crore.

Reuters

In last month alone, LKP Merchant Financing sold around 3 crore shares of Kingfisher Airlines.

LKP Finance held 16.48 per cent stake in Kingfisher Airlines at the end of June quarter, however, its current holding could not be ascertained.

Bucking the broader market sentiment, shares of the airline firm slumped by as much as 2.84 percent to settle at Rs 8.89.

PTI