Chennai: Promoters, including media tycoon Kalanithi Maran, of SpiceJet are going to increase their stake in the company by around 5% by infusing around Rs 133.34 crore in the company.
This will the fifth time, since 2011 the promoters are infusing money in the Airline.
SpiceJet got the Board's approval on January 9, 2014 to issue upto 64,169,000 Warrants having option to apply for and be allotted equivalent number of equity shares of the face value of Rs 10 each to the Promoters of the Company, on preferential basis on a price to be determined as per SEBI ICDR Regulations, said the company in an announcement to BSE.
S L Narayanan, Group CFO, Sun Group, owned by Maran, told Business Standard that the proposed issue of warrants comes with an option to apply for equity shares. The total amount of funds to be infused (including premium) with the proposed issue is estimated to be around Rs 133.34 crore.
10/01/14 TE Narasimhan/Business Standard
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This will the fifth time, since 2011 the promoters are infusing money in the Airline.
SpiceJet got the Board's approval on January 9, 2014 to issue upto 64,169,000 Warrants having option to apply for and be allotted equivalent number of equity shares of the face value of Rs 10 each to the Promoters of the Company, on preferential basis on a price to be determined as per SEBI ICDR Regulations, said the company in an announcement to BSE.
S L Narayanan, Group CFO, Sun Group, owned by Maran, told Business Standard that the proposed issue of warrants comes with an option to apply for equity shares. The total amount of funds to be infused (including premium) with the proposed issue is estimated to be around Rs 133.34 crore.
10/01/14 TE Narasimhan/Business Standard
