SBICAP invokes pledge of 11.55 cr shares in Kingfisher

Pledged shares of crisis-hit Kingfisher Airlines, amounting to more than 14 per cent stake, have been acquired by SBICAP Trustee Company.

At current market price, these pledge shares -- about 11.55 crore -- are worth Rs 43 crore. The shares, amounting to a 14.29 per cent stake in the airline that remains grounded since October 2012, are valued at about Rs 43 crore.

Promoters hold 30.14 per cent stake in Kingfisher, as per the company's December quarter shareholding pattern.

Burdened under huge losses and large debts, the airline stopped flying in October 2012 and its flying licence also lapsed about two months later. SBI has the maximum exposure to Kingfisher at Rs 1,800 crore.