NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News  » Business » SBICAP sells Kingfisher shares worth over Rs 4.52 cr

SBICAP sells Kingfisher shares worth over Rs 4.52 cr

March 13, 2014 19:12 IST

KingfisherSBICAP Trustee Company has sold 1.69 crore (16.9 million) shares worth over Rs 4.52 crore (Rs 452 million) of crisis-ridden Kingfisher Airlines.

Post sale, SBICAP's stake in the grounded carrier has come down to 10.10 per cent from 12.19 per cent, Kingfisher said in a regulatory filing.

Promoters held 30.14 per cent 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 (Rs 8.22 billion).

The airline, which has not flown for more than a year, had reported a loss of Rs 755.17 crore (Rs 7.55 billion) 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 on Thursday.

Image: This file photograph shows Kingfisher booking counters; Photograph: Reuters

© Copyright 2018 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.