NSE, BSE ask Kingfisher for information on stake sale

NSE says it has written to the company to safeguard the interest of the investors
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First Published: Thu, Sep 27 2012. 07 10 PM IST
Kingfisher chairman Vijay Mallya told shareholders on Wednesday he was in talks with foreign carriers for stake sale. Photo: Ramesh Pathania
Kingfisher chairman Vijay Mallya told shareholders on Wednesday he was in talks with foreign carriers for stake sale. Photo: Ramesh Pathania
Updated: Thu, Sep 27 2012. 08 51 PM IST
New Delhi: The National Stock Exchange (NSE) and the BSE have sought clarifications from Kingfisher Airlines on reports that the carrier is in talks with foreign entities and domestic investors for stake sale.
Both bourses in separate notices on Thursday said they were awaiting the response from Kingfisher Airlines.
According to NSE, the media had reports that Kingfisher Airlines is in talks with foreign carriers as well as domestic investors to sell a stake.
“The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the company,” it said.
The BSE has also sought clarifications regarding stake sale from Kingfisher Airlines.
“The Exchange, in order to verify certain news articles appearing in the various news papers/websites/television channels and also to inform the members/investors with regard to the accuracy of the news articles, had sought clarification from the company (Kingfisher Airlines),” the bourse said in a separate notice.
On Wednesday, Kingfisher Airlines chairman Vijay Mallya had said the carrier was in talks with foreign airlines.
However, he did not provide details citing “privacy and confidentiality” reasons.
Shares of the company on Thursday rose 8.03% to close at Rs.16.96 on the BSE, after touching an intra-day high of Rs.17.18—its highest level in a month.
The stock had gained 9 % on Wednesday as well, after Mallya said the air carrier is in talks with foreign airlines for possible stake sale.
In NSE too, shares of Kingfisher jumped about 8.60% to close today at Rs.17.05.
The carrier, which is deep in the red, is in talks with its lenders to make revival plan.
Kingfisher Airlines owes over Rs.7,000 crore to 17 banks in the long-term debt and has accumulated losses of around Rs.8,000 crore. PTI
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First Published: Thu, Sep 27 2012. 07 10 PM IST
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