The move piles pressure on Vijay Mallya who is also being pursued by domestic banks for not meeting loan-repayment obligations linked to his Kingfisher Airlines.
A few analysts said that the spike in UB group stocks could be like a 'dead cat bounce', which speculators might use to exit from their long-held positions.
The disclosure comes on a day when Mangalore Chemicals and Fertilizers, another UB Group firm, announced Mallya's resignation as a director.
The finance costs of Kingfisher Airlines for the reporting quarter stood at Rs 350.99 crore, against Rs 401.26 crore in the corresponding quarter of the previous year.
Prior to the transaction, Kingfisher Finvest held 7.21 per cent stake in the cash-strapped carrier. It now holds 2.27 per cent.
WHO recommends only one hour screen time for children under 5
Facebook beats Q1 profit estimates, sets aside $3 billion to cover FTC fine
Microsoft joins $1 trillion market cap club after impressive Q3 earnings
With RBI exit, government now owns 100% stake in NHB, Nabard
ICICI Prudential Life Insurance Q4 profit dips 23% to Rs 261 cr, board declares dividend of Rs 1.55 per share
Reliance Jio Prime vs Airtel, Vodafone, Idea 4G offers
Reliance Jio plans to bring 5G internet to your smartphones
Maruti Suzuki opens online booking for Baleno RS
India Inc to get 9.5 per cent salary hike this year
Five tips to get a good salary hike this year- WHO recommends only one hour screen time for children under 5
- Facebook beats Q1 profit estimates, sets aside $3 billion to cover FTC fine
- Microsoft joins $1 trillion market cap club after impressive Q3 earnings
Flipkart Super Value Week sale: Save up to Rs 9,000 on Honor smartphones
OnePlus 7 Pro: From triple camera to stereo speakers, here are 5 features you'll love