LKP Merchant Financing sells 51 lakh Kingfisher shares for Rs 4.3 crore

MUMBAI: 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 per cent 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 per cent from 16.48 per cent it held at the end of June quarter, BSE data showed.