Kalanathi Maran ups stake in SpiceJet
October 19th, 2010 - 5:04 pm ICT by IANSMumbai, Oct 19 (IANS) Sun TV founder Kalanithi Maran and his unlisted aviation firm Kal Airways have increased stake in the low-cost airline SpiceJet by 2.28 percent.
Maran and KAL Airways bought 9.22 million shares, or 2.28 percent, at a price of Rs.47.25 per share in an off-market transaction on Oct 18.
Maran’s direct holding in the airline now stands at 26.2 percent.
Maran and KAL Airways had in June agreed to buy a 37.7 percent stake in SpiceJet from US private equity firm Wilbur Ross and the Kansagra family-promoted Royal Holdings Services for Rs.739 crore at Rs 47.25 a share.
An open offer from Maran and KAL Airways for an additional 20 percent stake in SpiceJet started Oct 18. The offer closes Nov 6.
At the Bombay Stock Exchange (BSE), the SpiceJet scrip was trading 1.86 percent lower at Rs.76.70, in the last 30 minutes of trade.
- SpiceJet shares rise 4.11 percent as Maran raises stake - Mar 03, 2012
- Spicejet ex-CEO Sanjay Aggarwal joins Kingfisher Airline - Sep 30, 2010
- Sun TV shares down after Maran quits as textiles minister - Jul 07, 2011
- Sun TV shares down after Maran quits union cabinet (Lead) - Jul 07, 2011
- Maran, with $3 bn net worth, makes open offer for SpiceJet - Jun 14, 2010
- SpiceJet connects Madurai to Delhi and Mumbai - Sep 27, 2010
- SpiceJet stock down 5 percent on reports of high attrition - Aug 24, 2011
- Maran closeted with party colleagues, set to fly to Chennai - Jul 07, 2011
- Aviation stocks climb on FDI hopes - Apr 11, 2012
- I will not let down Maran brothers: Karunanidhi - Oct 11, 2011
- Karunanidhi silent as Marans raided in 2G case (Roundup) - Oct 10, 2011
- SpiceJet promoter to infuse Rs.100 crore - Mar 02, 2012
- Spicejet to fly to Colombo, Kathmandu next month - Sep 07, 2010
- SpiceJet seeks RBI's permission to raise $270 mn - Jun 24, 2011
- SpiceJet orders 15 aircraft from Bombardier for $446 million - Dec 10, 2010
Tags: 30 minutes, aviation, bombay stock exchange, bse, crore, low cost airline, maran, market transaction, mumbai, percent stake, private equity firm, scrip, spicejet, sun tv, ups, wilbur ross