Star Investments today sold over 2% stake in debt-laden Kingfisher Airlines for over Rs 21 crore through open market transactions.
In two separate bulk deals, Star Investments, one of the shareholder of Kingfisher Airlines, offloaded 1.28 crore equities translating into 2.22% stake in the air-carrier, according to the data available on the stock exchanges.
The shares were sold for Rs 21.33 crore, it added.
Star Investments sold 97.5 lakh shares of Kingfisher Airlines for Rs 16.63 apiece valuing the deal to Rs 16.21 crore on the BSE, while it offloaded 30,98,138 equities of the airline firm for Rs 16.55 apiece taking the deal size to Rs 5.12 crore on the NSE.
As of February 18, this year, Star Investments held 3.62 crore shares or 6.28% stake in Kingfisher Airlines.
Shares of Kingfisher Airlines soared by 10.26% to close at Rs 16.65 apiece on the BSE.
