Redect Consultancy sells over 36 lakh shares of Kingfisher Airlines

MUMBAI: Redect Consultancy today sold over 36 lakh shares of debt-laden Kingfisher Airlines for Rs 4.18 crore in an open market transaction.

In a bulk deal, Redect Consultancy offloaded 36,97,073 shares of the company for Rs 11.33 apiece, valuing the deal at Rs 4.18 crore, according to the data available with the stock exchanges.

However, buyers of the shares could not be ascertained. As of April 24, 2012, Redect Consultancy held 1.89 crore shares, or 2.8 per cent stake in the company.

Shares of Kingfisher Airlines today touched its 52-week low at Rs 10.90 apiece in the intra-day trade on the BSE, although the stock finally settled at Rs 11.05, down 7.92 per cent from the previous close.