Gopinath reduces stake in Kingfisher to 1.75%

Gopinath reduces stake in Kingfisher to 1.75%

Mumbai: Kingfisher Airlines on Thursday said its vice-chairman G R Gopinath has reduced his stake in the air carrier to 1.75% after selling shares worth Rs4.03 crore.

Gopinath sold 8,63,035 shares representing 0.32% stake in the company for Rs4.03 crore, Kingfisher Airlines said in a disclosure on the Bombay Stock Exchange.

On 15 September, Gopinath has sold a total of 13,59,473 shares of the private carrier for Rs6.31 crore through five separate transactions.

Gopinath had 88,50,190 shares of Kingfisher, representing 3.33% stake, as on 30 June.

Gopinath, who held over 9% stake in the company in June 2008, is on a selling spree since then.

Gopinath had started Air Deccan in 2003 and sold it to Vijay Mallya-owned Kingfisher in 2007.