Chennai: Amid market buzz of the promoters of SpiceJet planning to dilute their majority stake, media tycoon Kalanithi Maran, the principal promoter, has decided to increase his stake by five per cent to infuse Rs 184 crore in the airline.
This would be the third fund infusion in the airline by Maran since September 2011. The current one will be aimed at strengthening SpiceJet’s balance sheet and expanding fleet, said an official.
There were reports Maran and his wife Kavery had resigned from one of the promoter entities of SpiceJet, which triggered speculation on a possible sale of the Maran family’s majority stake in the airline.
The company denied a stake sale. It said it was talking to some private equity players.
Sun Group Chief Financial Officer S L Narayanan said: “Even if you assume they have resigned from another promoter company, it doesn’t mean anything”.
01/12/12 Business Standard
