SBI-Cap sells Kingfisher Airlines shares worth over 4.52 crore

Mar 13 2014, 21:49 IST
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Post sale, SBICAP’s stake in the grounded carrier has come down to 10.10% from 12.19%, Kingfisher said. PTi Post sale, SBICAP’s stake in the grounded carrier has come down to 10.10% from 12.19%, Kingfisher said. PTi
SummaryPost sale, SBICAP’s stake in the grounded carrier has come down to 10.10% from 12.19%, Kingfisher said.

SBICAP Trustee Company has sold 1.69 crore shares worth over Rs. 4.52 crore of debt-ridden Kingfisher Airlines.

Post sale, SBICAP’s stake in the grounded carrier has come down to 10.10% from 12.19%, Kingfisher said in a regulatory filing on Thursday.

Promoters held 30.14% stake in Kingfisher, as per the company’s December quarter shareholding pattern.

For the October-December quarter, Kingfisher reported a net loss of Rs. 822.42 crore. The airline, which has not flown for more than a year, had reported a loss of Rs. 755.17 crore in the year-ago period.

Burdened by losses and huge debts, the airline — part of the group led by liquor baron Vijay Mallya’s — stopped flying in October 2012. Its flying licence also lapsed about two months later.

Shares of the company ended at Rs 2.44 apiece, up 0.83 per cent on the BSE Sensex on Thursday.

With inputs from PTI

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