Sun TV owner raises stakes in SpiceJet

Mumbai : Sun TV owner Kalanithi Maran and his aviation firm, Kal Airways Pivate Limited, have raised stake in low-cost carrier SpiceJet after acquiring an additional 9.22 million shares, or 2.28 percent, according to Bombay Stock Exchange.

Kal Airways Pvt Ltd, in a filing at the BSE on Tuesday said the shares were acquired on October 18 through an off-market transaction and Maran’s direct holding in SpiceJet now stood at 26.2 percent.

In June, Maran and Kal Airways had agreed to buy 37.7 percent in the carrier from US investor Wilbur Ross and Royal Holdings Services, held by the Kansagra family, for 7.39 billion rupees at 47.25 rupees a share.