| SpiceJet offered $118mn, to raise $80mn |
| Our Web Bureau / Mumbai December 12, 2006 |
| Delhi-based budget airline SpiceJet has received investment proposals amounting to $118 million, and the company intends to issue equity on a preferential basis for approximately $80 million. According to an official release issued by the airline today, proposals have been received from Tata Investments Corporation ($1.2 million), Ewart Investments, an investment company of the Tata Group, ($16 million), Texas Pacific Group ($30 million), Istithmar PJSC ($25 million) and Goldman Sachs ($5 million). The company board met yesterday evening and approved the proposals, which will be placed for shareholder approval at an EGM on January 11, 2007. Bhulo Kansagra, director of SpiceJet, said: "We are delighted that such high quality investors are investing in SpiceJet. The House of Tata is India |
