LKP Merchant sells 51 lakh Kingfisher shares worth Rs 5.3 crore

MUMBAI: LKP Merchant Financing today sold 51 lakh shares of debt-ridden Kingfisher Airlines for Rs 5.30 crore through an open market transaction.

According to bulk deal data available on the stock exchanges, LKP Merchant Financing offloaded 51 lakh equities of the airline at a price of Rs 10.41 per share, valuing the transaction at Rs 5.30 crore.

However, buyers of the shares could not be ascertained. LKP Merchant Financing has been persistingly selling the Vijay Mallya-promoted airline's shares. Yesterday, the financing company sold one crore shares of Kingfisher Airlines for Rs 10.41 crore.

On July 11, LKP Merchant Financing offloaded 65 lakh shares of the carrier for nearly Rs 7 crore.

Last week, LKP Merchant Financing had sold 78.51 lakh shares of Kingfisher Airlines for Rs 9.57 crore.

As of June 23, 2012, LKP Merchant Financing held 13,32,96,791 shares, or 16.48 per cent stake, of Kingfisher Airlines.

Shares of Kingfisher Airlines today ended flat at Rs 10.33 apiece on the BSE.