As part of the June deal to acquire 37.7 per cent stake in low-cost carrier SpiceJet, Sun TV promoter Kalanithi Maran and his firm KAL Airways have bought 7.42 per cent equity for Rs 135.10 crore. This was an off-market transaction, following which, Maran’s direct stake in the airline now has increased to 25.12 per cent.
Last week, Maran had increased his direct stake in the company to 17.71 per cent through similar transactions. In June, the Chennai-based industrialist had clinched a deal to acquire 37.7 per cent stake in the low-cost carrier for about Rs 750 crore.
