Kalanithi Maran hikes stake to 22.05%: Spicejet

India Infoline News Service | Mumbai | ,

Spicejet Ltd has announced that the Company on April 18, 2013 has allotted 35,931,453 equity shares of Rs. 10 each, to Kalanithi Maran

Spicejet Ltd has announced that the Company on April 18, 2013 has allotted 35,931,453 equity shares of Rs. 10 each, to Kalanithi Maran, Promoter of the Company, 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, in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.

Maran's stake has risen from 16.27% to 22.05%, SpiceJet said
 

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