Gopinath reduces stake in Kingfisher

Kingfisher Airlines on Thursday said its vice-chairman G R Gopinath has reduced his stake in the air carrier to 1.75 per cent after selling shares worth Rs 4.03 crore (Rs 40.3 million).

Gopinath sold 8,63,035 shares representing 0.32 per cent stake in the company for Rs 4.03 crore, Kingfisher Airlines said in a disclosure on the Bombay Stock Exchange.

On September 15, Gopinath has sold a total of 13,59,473 shares of the private carrier for Rs 6.31 crore through five separate transactions.Gopinath had 88,50,190 shares of Kingfisher, representing 3.33 per cent stake, as on June 30, 2009.

Gopinath, who held over 9 per cent stake in the company in June 2008, is on a selling spree since then. Gopinath had started Air Deccan in 2003 and sold it to Vijay Mallya-owned Kingfisher in 2007.