Kingfisher Airlines (KFA) loan held by company’s debt fund KFA loan has underlying security of United Spirits (USL) shares
Held 3.5-4% stake of USL as collateral
Agreement to sell USL stake once USL-Diageo deal cleared
Expect IRRs of 15-17% from deal
Transaction has been cleared by SEBI
Have to wait for CCI nod for any sale to take place.
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