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Journalism of Courage
LKP Merchant Financing,which has already sold Kingfisher Airlines shares worth Rs 13 crore this month,today sold 93.6 lakh shares of the debt-laden firm for over Rs 7 crore.
According to the bulk deal data available with stock exchanges,LKP Merchant Financing offloaded 93,59,211 shares of Kingfisher Airlines at a price of Rs 7.69 apiece,valuing the deal at Rs 7.19 crore.
Apart from today’s share sale,LKP Merchant Financing had sold one crore shares of the airline firm for over Rs 13 crore this month alone. In July,LKP Merchant Financing had offloaded around 3 crore shares of Kingfisher Airlines.
LKP Finance has reduced its holding in Kingfisher Airlines to 5.58 per cent,as per latest data available with the BSE showed. It held 16.48 per cent in the airline firm at the end of June quarter.
Shares of Kingfisher Airlines continued its southward trend for the ninth straight day and tanked by 11.06 per cent,to close at Rs 7.40 on the BSE.
