Goldman picks up 6% stake in SpiceJet

Foreign fund house Goldman Sachs Investment Partners Mauritius has announced that they have picked up 6% stake in Spicejet Airlines. SpiceJet has been one of the leading low-cost airlines in the country.
For this stake purchase, Goldman Sachs has converted its 1.5 crore warrants to equity.
These warrants have been purchased by Goldman from Spicejet airlines in the month of December, 2008. But there was a lock-in period up to 11th December, 2009.
Now Spicejet has allotted shares of 1.53 crore in lieu of warrants held by Goldman. This accounts for 6% of its shares. Goldman Sachs Investment Partners Mauritius will receive all these shares with Rs 10 each at a premium of Rs 29.46 per equity.
09/06/10 Kulwant Kaler/Fv current Waves

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Categories: Foreign Jun 2010, SpiceJet Jun 2010