New Delhi: SpiceJet's search for investors may be reaching a conclusion with a plan likely to be submitted to the civil aviation ministry on Friday, said government officials. Fresh investments are expected in a month, they said.
The plan is likely to involve an investment of Rs 1,200 crore by a consortium led by former co-promoter Ajay Singh with US investment firm JPMorgan being a constituent. ET reported on Thursday that Singh and JPMorgan are likely to invest Rs 1,200 crore in SpiceJet. Singh is putting together the team of international investors to bail out the airline.
Besides JPMorgan, Morgan Stanley is another institutional investor that is believed to have shown interest, said one of the sources mentioned above, although it's not clear if this refers to the private equity arm. The new investors plan to buy out the promoters, as the latter want to exit the airline. The airline is currently controlled by Kalanithi Maran and his Sun Group.
26/12/14 Economic Times
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The plan is likely to involve an investment of Rs 1,200 crore by a consortium led by former co-promoter Ajay Singh with US investment firm JPMorgan being a constituent. ET reported on Thursday that Singh and JPMorgan are likely to invest Rs 1,200 crore in SpiceJet. Singh is putting together the team of international investors to bail out the airline.
Besides JPMorgan, Morgan Stanley is another institutional investor that is believed to have shown interest, said one of the sources mentioned above, although it's not clear if this refers to the private equity arm. The new investors plan to buy out the promoters, as the latter want to exit the airline. The airline is currently controlled by Kalanithi Maran and his Sun Group.
26/12/14 Economic Times
