Clarification on Lehman stake buoys KSK Energy

DALAL STREET SPIKES

KSK Energy Ventures on Tuesday jumped 17.1 per cent to close at Rs 202.05 after it clarified that Lehman Brothers’ stake in the company was locked in for a year, ending July 2009. The Lehman affiliates hold 28.41 per cent in the company, which they had acquired as a part of a pre-initial public offer transaction.

KSK Energy added in the announcement that the company was currently not contemplating any fresh issue of equity shares. After opening 4.35 per cent higher at Rs 180, it hit an intraday high of Rs 212.45 and a low of Rs 153.20.