SpiceJet ups equity capital by Rs 85 cr

New Delhi: Low-cost carrier SpiceJet today announced that it had raised its equity capital by Rs 85 crore to Rs 500 crore. “We have raised the equity capital of the airline to Rs 500 crore from Rs 415 crore,” said Kishore Gupte, director and interim CEO, at company’s annual general meeting.
The Gurgaon-based carrier for the first time made profit in 2009-10. It had reported a profit of over Rs 61 crore. In June, media baron Kalanithi Maran of Sun TV Network had acquired a 37.75 per cent stake in SpiceJet for Rs 750 crore.
The deal was followed by an open offer for an additional acquisition of 20 per cent.
On the open offer, Gupte said they were waiting for the Securities and Exchange Board of India’s (Sebi’s) approval.
28/08/10 Business Standard

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Categories: SpiceJet Aug 2010