Kalanithi Maran buys another 4.78 per cent in Spice
28 October 2010
Sun TV owner Kalanithi Maran and his unlisted aviation firm Kal Airways have raised their stake by t4.78 per cent or 19.37 million shares in low-cost airline SpiceJet.
Their stake in SpiceJet now stands at 30.98 per cent, according to a filing with the Bombay Stock Exchange. The shares were acquired on Tuesday through an off-market transaction, the filing said.
On 14 June, Maran agreed to buy 37.70 per cent in the carrier from investor Wilbur Ross and Royal Holdings Services, held by the Kansagra family, at Rs47.25 per share.