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.
