Kalanithi Maran’s stake in SpiceJet up to 30.98 pc

Bombay Stock Exchange (BSE) on Wednesday confirmed that Sun TV owner Kalanithi Maran and his aviation company, Kal Airways Private Limited, have raised stake in low-cost carrier SpiceJet by acquiring an additional 19.37 million shares, ( 4.78 per cent).

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

In June, Maran and Kal Airways had agreed to buy 37.7 per cent in the carrier from U.S. investor Wilbur Ross and Royal Holdings Services for 7.39 billion rupees at 47.25 rupees a share.