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Sunday, June 13, 2010

SpiceJet Stock News - Kalanithi Maran buys 37.75% Stake

Sun TV Promoter Kalanithi Maran has acquired 37.75% in low-cost carrier SpiceJet at Rs 47.25 per share amounting to Rs 750 crore.

As per the deal, Maran's aviation company will acquire the stake from promoters Wilber Ross and Bhupendra Kansagara.

Maran will make an open offer for 20% at around Rs 57 per share, reports CNBC TV18. The open offer is likely to be made on Monday.

Maran has bought the stake in individual capacity.

Among other stakeholders, one promoter Ajay Singh and his family hold 10% while Goldman Sachs holds around 6%. The other promoter, the Kansagra Family, holds 12%, however over 50% of these shares are pledged.

The SpiceJet share closed at Rs 56.05 on Friday on the BSE, down 3% from its previous close.

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