Mumbai: SpiceJet promoter and media baron Kalanithi Maran is tapping the market to raise as much as Rs 400-500 crore, in a move to retire the airline's debt that was raised from local banks for operational needs.
Maran has sounded out leading MNC banks for this deal, according to a source. The promoter has engaged a few banks, including a major European bank, to find investors, the source, in the know of the deal, said. Maran is willing to give Sun TV shares as security and certain real estate assets of the group as collateral.
But the South Indian media tycoon has not mandated any bank for the deal, though Kotak's investment bank arm was informally sounded out recently, added the source.
27/09/12 Economic Times
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Maran has sounded out leading MNC banks for this deal, according to a source. The promoter has engaged a few banks, including a major European bank, to find investors, the source, in the know of the deal, said. Maran is willing to give Sun TV shares as security and certain real estate assets of the group as collateral.
But the South Indian media tycoon has not mandated any bank for the deal, though Kotak's investment bank arm was informally sounded out recently, added the source.
27/09/12 Economic Times
