Mumbai: No-frills airline SpiceJet, on Wednesday, said in a filing to the Bombay Stock Exchange that its shareholders had approved promoter Kalanithi Maran picking up an additional 5 per cent equity by infusing about Rs.100 crore into the company.
The move will take the overall holding of the promoters in the airline to 48.6 per cent. SpiceJet informed the BSE that shareholders had approved the allotment of up to 42,900,000 equity shares to Mr. Maran on a preferential basis.
The filing also said that the board had conducted a postal ballot to give effect to the above decisions. Reflecting the prevailing market conditions, SpiceJet had reported a Rs.39.30 crore loss in the December quarter, on the back of a 90 per cent spike in fuel costs which offset a 41 per cent rise in revenues.
The airline enjoys 16.3 per cent market share as of January, making it the fourth largest carrier among the seven and the second largest among the no-frills airlines.
04/04/12 PTI/The Hindu
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