LKP Merchant Fin sells Kingfisher shares worth Rs 7 cr

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%, as per latest data available with the BSE showed. It held 16.48% 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%, to close at Rs 7.40 on the BSE.