KFA crash lands
By
Research Desk
about 12 years ago
KFA is a big loser today morning, down almost 5% at Rs..3.75, a tad higher than its new lifetime low of Rs.3.67 touched last week.
The stock has crashed on news reports that lenders to the company, led by SBICap Trustee company took possession of the company’s headquarters near Mumbai airport, after Vijay Mallya and United Breweries (Holdings) failed to pay the dues. The lenders had issued notice to the guarantors on 3rd May to pat dues to the tune of Rs.6027 crore. This move to takeover the office is being made by the lenders to recover the dues through a probable sale of the premise which could raise part of the required money.