Blog for Indian Financial Market, Know About IPO,Mutual Fund and Capital Market in one Blog
Thursday July 31st 2014

Kalanithi Maran buys into 37 Percent of SpiceJet into KAL Airways

Kalanithi Maran who is well known as SUN Networks owner has entered into an agreement to acquire over 37 per cent equity in low-cost carrier SpiceJet.As Part of the agreement Maran’s aviation company Kal Airways would acquire a total of over 37 per cent stake from promoters Wilbur Ross and his investment companies as well as Bhupendra Kansagara,This agreement will close as a deal after a month or so ,SpiceJet was down yesterday after the news , It was also said that Maran bought the 37.7 per cent stake at a price of around Rs 48 per share, which would account to almost Rs 750 crore.

Leave a Reply