As per the latest shareholding pattern filed by Kingfisher with the stock exchanges on Wednesday, ICICI Bank held about 1.67 crore (16.7 million) shares, accounting for a 2.9 per cent stake, in the airline as on March 31, 2012.
In contrast, ICICI Bank held 2.63 crore shares, or 5.3 per cent stake, in Kingfisher as on December 31, 2011.
While the details of sale of shares by ICICI Bank could not be ascertained, the latest list of Kingfisher shareholders includes two new entities -- LKB Finance (1.38 per cent) and SHCIL Services Ltd (1.04 per cent).
At the current market price, the shares estimated to be sold by ICICI Bank during the quarter would be worth about Rs 15 crore (Rs 150 million).
Kingfisher shares have been seeing huge selling pressure for many months now.
The stock slipped 2.2 per cent in Wednesday's trade at the BSE and closed at Rs 15.70.
Earlier in the day, the shares hit their all-time low level of Rs 13, before recovering some ground.
The company has lost about two-third of its market value in the past one year.
The shares were trading above Rs 47 level a year ago on April 26, 2011.
The promoters currently hold little over half of the company (50.2 per cent stake), but more than 90
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