SpiceJet allots 3.59 crore shares to Maran, raises Rs 130 crore

Low-cost carrier SpiceJet today raised about Rs 130 crore by allotting 3.59 crore equity shares to promoter Kalanithi Maran.

"The company 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," Spicejet said in a filing to the BSE today.

The overall holding of promoters in the airline stands at 48.59% at the end of March quarter.

The airline currently operates more than 350 daily flights to over 50 Indian cities and 8 international destinations.

Shares of the company ended the day 3.03% up at Rs 30.60 on the BSE.