Sun TV chief Kalanithi Maran and his firm KAL Airways have bought 7.42% equity for Rs 135.10 crore, as part of the June deal to acquire 37.7% stake in low-cost carrier SpiceJet.
This was an off-market transaction, following which Maran's direct stake in the airline now has increased to 25.12%, SpiceJet said in a filing to the Bombay Stock Exchange.
Last week, Maran had increased his direct stake in the company to 17.71% through similar transactions.
In June, the Chennai-based industrialist had clinched a deal to acquire 37.7% stake in the low-cost carrier for about Rs 750 crore from American investor Wilbur Ross, his investment companies and the Kansagara family-promoted Royal Holding Services Ltd.
The latest transaction, through which Maran has bought about 2.86 crore shares (7.42 per cent stake), at a price of Rs 47.25 per piece, is pursuant to the share purchase agreement signed at the time of the deal, the filing said.
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Times Of India
This was an off-market transaction, following which Maran's direct stake in the airline now has increased to 25.12%, SpiceJet said in a filing to the Bombay Stock Exchange.
Last week, Maran had increased his direct stake in the company to 17.71% through similar transactions.
In June, the Chennai-based industrialist had clinched a deal to acquire 37.7% stake in the low-cost carrier for about Rs 750 crore from American investor Wilbur Ross, his investment companies and the Kansagara family-promoted Royal Holding Services Ltd.
The latest transaction, through which Maran has bought about 2.86 crore shares (7.42 per cent stake), at a price of Rs 47.25 per piece, is pursuant to the share purchase agreement signed at the time of the deal, the filing said.
Read more...
Times Of India
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