LKP Merchant Fin sells 51 lakh Kingfisher shares for Rs 4.3 cr

LKP Merchant Financing, which has already sold Kingfisher shares worth Rs 9 crore this month, today sold another 51 lakh shares of the debt-laden airline for an estimated Rs 4.30 crore.

According to the bulk deal data available with the stock exchanges, LKP Merchant Financing offloaded 51 lakh shares of Kingfisher Airlines at a price of Rs 8.45 apiece, valuing the deal at Rs 4.30 crore.

Shares of Kingfisher slipped into a 52-week low of Rs 8.21 before settling at Rs 8.32, down 3.59% from the previous close, on the BSE.

Apart from today's share sale, LKP Merchant Financing had sold 99.51 lakh shares of the airline for an estimated Rs 9 crore this month. In July, LKP Merchant Financing had offloaded around 3 crore shares of Kingfisher Airlines.

LKP Finance has reduced its holding in Kingfisher Airlines to 5.58% from 16.48% it held at the end of June quarter, BSE data showed.