ICICI Bank lowers Kingfisher stake to 2.9%

April 25, 2012 17:15

Leading private sector lender ICICI Bank's stake in the troubled air carrier Kingfisher Airlines has come down sharply to 2.9 per cent, from more than
five per cent at the end of 2011. As per the latest shareholding pattern filed by
Kingfisher with the stock exchanges today, ICICI Bank held about 1.67 crore shares, accounting for a 2.9 per cent stake, in the airline as on March 31, 2012.

In contrast, ICICI Bank held 2.63 crore shares, or 5.3 per cent stake, in Kingfisher as on December 31, 2011. While the details of sale of shares by ICICI Bank could not be ascertained, the latest list of Kingfisher shareholders
includes two new entities -- LKB Finance (1.38 per cent) and SHCIL Services Ltd (1.04 per cent).

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