Kalanithi Maran buys 5 pct more in SpiceJet | business | Hindustan Times
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Kalanithi Maran buys 5 pct more in SpiceJet

Sun TV founder Kalanithi Maran and his unlisted aviation firm Kal Airways Pvt Ltd have acquired 19.37 million shares, or 5.03 per cent more, in low-cost carrier SpiceJet, BSE data showed today.

business Updated: Oct 06, 2010 20:06 IST

Sun TV founder Kalanithi Maran and his unlisted aviation firm Kal Airways Pvt Ltd have acquired 19.37 million shares, or 5.03 per cent more, in low-cost carrier SpiceJet, BSE data showed on Wednesday.

The shares were acquired on Oct 5 through an off-market transaction. Maran's direct holding in SpiceJet now stands at 17.72 per cent.

In June, Maran and Kal Airways had agreed to buy 37.7 per cent 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.