LKP Merchant Financing today sold 65 lakh shares of debt-laden Kingfisher Airlines for nearly Rs 7 crore through an open market transaction.
According to bulk deal data available on the stock exchanges, LKP Merchant Financing offloaded 65 lakh equities of Kingfisher Airlines for Rs 10.54 apiece, valuing the deal at Rs 6.85 crore.
However, buyers of the shares could not be ascertained.
Last week, LKP Merchant Financing sold 78.51 lakh shares of Kingfisher Airlines for Rs 9.57 crore.
As of June 23, 2012, LKP Finance held 13,32,96,791 shares, or 16.48% stake, of Kingfisher Airlines.
Shares of Kingfisher Airlines fell by 6.38% to close at Rs 10.27 apiece on the BSE.
