Warrant
conversion shrinks Mallya’s grip to 35.86%
Mumbai, July 2:
The promoter
holding in Vijay Mallya-led Kingfisher Airlines decreased to 35.86 per cent on
conversion of debentures into equity by corporate entities. Promoter holding
was 43 per cent as at April 24, and was over 50 per cent, last fiscal. While
the number of shares held by promoters group remained same at 28.999 crore
shares, their holding on a percentage terms declined due to the conversion of
warrants into equity by LKP Finance Ltd, which now holds over 16 per cent
stake. This has increased the equity base of Kingfisher Airlines to 80.87 crore
shares from 67.54 crore shares in April.
The scrip of
KFA closed at Rs 11.96, down 0.75 per cent, on the BSE on Monday. The stock saw
a spike in early trade but remained flat through the rest of the session.
It touched a
day’s high of Rs 12.26 and a day’s low of Rs 11.55. The total traded quantity
during the day was 57.34 lakh, far higher than the two-week average of 47.44
lakh. Shares worth Rs 7 crore of KFA were traded on the exchange on Monday.
Individuals’
holding
The rise in
equity base has also resulted in the increase of other stakeholders. Small
retail investors now hold 12.56 per cent, while HNIs hold 8.55 per cent stake —
up from 9.56 per cent and 4.21 per cent respectively at the end of last fiscal.
According to
the shareholding pattern as on June 23, the public shareholders have 64.14 per
cent which includes 14.30 per cent by institutions. Of this, FIIs hold 0.99 per
cent and DIIs 13.31 per cent.
Non–institutional
investors hold 49.84 per cent of which 27 per cent by corporate bodies. The
remaining is held by retail, HNIs, NRIs, trusts, clearing members and foreign
nationals.
Global airline
consultancy firm, Centre for Asia Pacific Aviation (CAPA), estimates that
Kingfisher Airlines has a funding requirement of close to $1 billion, of which
$500-600 million is needed immediately.
No comments:
Post a Comment