SpiceJet raises funds to the tune of Rs 130 crore from Kalanithi Maran

19 Apr 2013

SpiceJet, India's second-biggest budget carrier by market share has raised funds to the tune of Rs 130 crore through issue of equity shares to promoter of the company Kalanithi Maran. The overall holding of promoters in the airline stands at 48.59% at the end of March quarter.

The budget carrier has allotted 35,931,453 equity shares of Rs 10 each, to Kalanithi Maran, pursuant to conversion of 13 million 14% unsecured compulsorily convertible debentures of the face value of Rs 100 each, at a conversion price of Rs 36.18 per equity share.

SpiceJet, India's second-largest budget carrier by market share, currently operates more than 350 daily flights to over 50 Indian cities and 8 international destinations.

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