Kalanithi Maran raises stake in SpiceJet to 31%

Kalanithi Maran raises stake in SpiceJet to 31%

Mumbai: Sun TV founder Kalanithi Maran and his unlisted aviation firm, Kal Airways Pvt Ltd, have raised stake in low-cost carrier SpiceJet by acquiring an additional 19.37 million shares, or 4.78%, the airline said in a filing to the BSE on Wednesday.

The shares were acquired on 26 October through an off-market transaction and Maran’s direct holding in SpiceJet now stands at 30.98%.

In June, Maran and Kal Airways had agreed to buy 37.7% in the carrier from US investor Wilbur Ross and Royal Holdings Services, held by the Kansagra family, for Rs739 crore at Rs47.25 a share.

At 10:17 am, SpiceJet shares were up 3.29% at Rs83.25 on the BSE.

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