To Read a text file using shell Programming

I need to read a text file containing certains rows and columns!The following is a sample file with only three rows!

01:41:30:00:05:51 OFF 48506649K 5769415 63494357K
01:41:30:00:05:65 ON 4493546K 27266552 5880264K
01:41:30:00:05:78 OFF 614556K 89121 47291K

1.I need a shell script which would insert a delimiters between each record
2.To trim the "K" in certain records present.
3.To only select the get certain columns.

can anyone helpme in finding a solution for this!

You can use "sed" for numbers 1 and 2. Use "cut" or "awk" for number 3.

sed 's/ /|/g'
sed 's/K$//'
cut -d'|' -f1

You can fill in the details to make a full script...