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Kingfisher Airlines shareholder base hits record high

The number of shareholders at Kingfisher Airlines has zoomed to a record-high of about 2.4 lakh, even as the carrier has remained grounded for over nine months.

BT Online Bureau   New Delhi     Last Updated: July 8, 2013  | 11:37 IST

In a logic-defying trend, number of shareholders at Kingfisher Airlines has zoomed to a record-high of about 2.4 lakh, even as the carrier has remained grounded for over nine months and its market value has plummeted by over 90 per cent.

The overall investor base of the company stood at more than 2.38 lakh at the end of last financial year.

According to the company's latest shareholding pattern, over 2.3 lakh small retail shareholders own shares in Kingfisher Airlines, accounting for nearly 97 per cent of the overall base while other investors include about 3,600 high networth individuals (HNIs) and close to 2,300 non-resident Indians (NRIs).

Total number of promoter shareholders is just six, including Mallya himself and his Group entities while the number of various institutional investors is also very small.

Moreover, the number of institutional investors has continued to decline for many months now even as the retail investor base went on rising.

The heavily debt-laden aviation venture of Vijay Mallya-led UB Group has witnessed a continuous uptrend in its shareholders base for past few years - from about 1.4 lakh at the end of 2011-12, about 98,000 as on March 2011, about 84,000 a year prior to that, 67,000 in March 2009 and just about 50,000 in March 2008.

Burdened under huge loss and large debts, Kingfisher Airlines stopped flying in October 1, 2012.

Shares of Kingfisher Airlines were trading nearly 10 per cent higher at Rs 5.48 in early trade at the Bombay Stock Exchange.

With inputs from PTI

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