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Business couple Harihara & Preeti Mahapatra to invest in SpiceJet. Know about them
As per a media report, Harihara and Preet Mahapatra will invest ₹1,100 crore in SpiceJet.
Businessman Harihara Mahapatra and his wife Preeti Mahapatra are likely to invest ₹1,100 crore in SpiceJet in return for a 19% stake in the companies.
According to the Economic Times, which reviewed a detailed funding proposal, Aries Opportunities Fund will hold 3% while Elara Capital will hold 8%.
The development comes as SpiceJet last week announced that several high-net individuals will invest over ₹2,000 crore in it through 130 million convertible warrants and 320.8 million fresh equity shares. This is likely to reduce promoter Ajay Singh’s current shareholding in the airline from 56.49% to at least 38.55%, reported ET.
On Tuesday, SpiceJet expressed interest in acquiring Go First and said that it plans to submit its offer after carrying out due diligence on the bankrupt carrier.
Here's what we know about Businessman Harihara Mahapatra and his wife Preeti Mahapatra.
Who is Harihara Mahapatra?
- Hariahara Mahapatra and his wife are promoters of the Mumbai-based group Mahapatra Universal Limited.
- His company is present in multiple sectors such as real estate, infrastructure, consulting, consumer and retail.
- According to the group's website, Harihara holds an MBA degree. He has an extensive business background in international, multi-cultural environments.
- He has spent the last 16 years building and leading investments as an entrepreneur from manufacturing to financial services.
- Harihara Mahapatra once announced an ambitious plan to construct the country’s tallest building in Khajod, Gujarat. That plan, however, came a cropper.
Who is Preeti Mahapatra?
- Preeti Mahapatra holds a master’s degree in International Business (Finance) and Export Management.
- According to the group's website, Preeti Mahapatra has successfully launched international brands in European, Asian and Middle Eastern markets.
- Preeti Mahapatra also runs a non-profit organisation.
- In 2016, she contested the election for the Rajya Sabha from the state of Uttar Pradesh on a BJP ticket. She, however, lost in the polls.
