New Delhi, Jul 8:The small individual investors and HNIs seem to be on a share buying spree in Kingfisher Airlines, even as the stake of promoters themselves has hit a record low in the debt-ridden airline.
The small individual shareholders currently own 12.56 per cent stake in Vijay Mallya-led group's Kingfisher Airlines, while another 8.55 per cent holding is now with the high-networth individuals.
The holding of small investors (defined as those holding up to Rs one lakh worth shares in a company) has almost doubled in about 15 months, while that of HNIs (individuals with shares worth over Rs one lakh) has more than tripled.
The latest shareholding data of the company shows that the numbers of small individual and HNI shareholders have also grown considerably during this time.
On the other hand, the total promoter holding has dipped to 35.86 per cent—the lowest since the carrier became a publicly listed company after acquisition of Deccan Aviation.
Besides, the promoters have pledged over 90 per cent of their shares with various lenders, leaving them with a non- encumbered stake of just 3.55 per cent.
Its shares hit an all-time low of Rs 10.05 early last month and are currently trading near Rs 11 level. About a year ago, the stock was trading over Rs 40 level.
The recent decline in promoter holding is not because of sale of shares but because of increase in total number of the company's shares, following the conversion into equity of warrants issued to certain entities.
The shareholding of institutional investors has also come down in the recent quarters and has nearly halved to 14.3 per cent currently, from 27.18 per cent as on March 31, 2011.
Speculations have been doing the rounds for a long time that some strategic or financial investors could acquire stake in Kingfisher—a reason being attributed for large-scale share purchase by individual investors.
As a result, the shareholding of small individuals has grown considerably from 9.56 per cent as on March 31, 2012 and 5.36 per cent as on March 31, 2011.
The HNIs' stake has also come up from 4.21 per cent as on March 31, 2012 and 2.31 per cent as on March 31, 2011.
More than 1.76 lakh small individuals currently own Kingfisher shares—up from about 1.35 lakh at the beginning of the current fiscal and about 95,000 as on March 31, 2011.
The total number of HNI shareholders currently stand at more than 1,800 -- as against 668 as on March 31, 2012 and just 265 a year before that.
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