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Redect Consultancy sells 3.25 million shares of Kingfisher for Rs 5.74 crore

10 Apr 2012 Evaluate

Redect Consultancy has sold 3.25 million shares of Kingfisher Airlines for Rs 5.74 crore in an open market transaction. In a bulk deal, Redect Consultancy offloaded 32,50,914 equities of Kingfisher for Rs 17.66 apiece.

Last week, LKP Merchant Financing had sold 4.35 million shares of Kingfisher for Rs 6.7 crore and Star Investments also offloaded 12.8 million equities (equivalent to 2.22% stake) in the airline for Rs 21 crore.

In February, the beleaguered airline had allotted equity shares against optionally convertible debentures (OCDs), a development that would help save interest outgo on such instruments.

Peers
Company Name CMP
Interglobe Aviation 4298.90
SpiceJet 13.33
Raymond 491.55
Global Vectra Helico 176.85
Taneja Aerospace 318.40
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