BackMaran to infuse ₹1,30 cr in Spicejet; stock jumps
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13 Sep 2011, 11:01 AM IST
Maran to infuse ₹1,30 cr in Spicejet; stock jumps
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New Delhi: Low-fare carrier Spicejet will raise ₹ 1,30 crore by issuing fresh shares to its majority-owner Kalanithi Maran at ₹ 36 a share by October, its chief executive said on Tuesday.
The fresh shares will raise Maran’s stake to 43% from 38.7% currently and will help the airline to cover losses and fund expansion, Neil Mills told Reuters.
At 10:26 am SpiceJet shares, valued at almost ₹ 1,000 crore, were up 8.3% at ₹ 26.
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Published: 13 Sep 2011, 11:01 AM IST
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