The promoter holding in Vijay Mallya-led Kingfisher Airlines decreased to 35.86 per cent on conversion of debentures into equity. Promoter holding was 43 per cent as at April 24, and was over 50 per cent, last fiscal.
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 rise
Meanwhile, the holding of individual shareholders has increased significantly since the beginning of the current fiscal. 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. CAPA estimates an additional funding requirement of $300-400 million in the next fiscal.
KFA slipped from being India’s largest domestic carrier to its smallest in a span of only six months and its market capitalisation has dropped by 66 per cent in the past one year.
niveditag@thehindu.co.in