LKP Merchant Financing, which has been reducing its exposure to Kingfisher Airlines, today sold another 46.10 lakh shares of the debt-laden carrier for Rs 4 crore.
According to the bulk deal data available with stock exchanges, LKP Merchant Financing offloaded 46,10,217 shares of Kingfisher Airlines at a price of Rs 8.79 apiece, valuing the deal at Rs 4.05 crore.
On August 6, LKP Merchant Financing sold 53.41 lakh shares of the airline for nearly Rs 5 crore.
In the last month alone, LKP Merchant Financing sold around 3 crore shares of Kingfisher Airlines.
LKP Finance held 16.48% stake in Kingfisher Airlines at the end of June quarter. However, its current holding could not be ascertained.
Shares of Kingfisher today fell to 52-week low of Rs 8.61 before settling at Rs 8.63, down 0.92% from the previous close, on the BSE.
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