Kingfisher flies 4% on likely stake sale to PE firm

The debt-laden Kingfisher Airlines rebounded in afternoon trade, rising as much as 3.91 percent to hit an intraday high of Rs 13.81. The stock is reacting to a likely stake sale to a private equity firm.

According to CNBC-TV18 sources, Texas Pacific Group Capital (TPG) is the only PE player to express interest in KFA so far. Howevver, the PE firm is unwilling to consider more than 9-10% in the ailing airlines.  (Read the full story here )

Promoters including UB Holdings, Kingfisher Finvest and Vijay Mallya hold 35.83% stake in Kingfisher; out of which Vijay Mallya holds only 1.87 percent stake.

At 12:12 hours IST: the stock rose 1.2 percent to Rs 13.45 on the Bombay Stock Exchange. Market capitalisation of the company currently stands at Rs 1,087.73 crore.

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