New Delhi: The entire 58.46 per cent holding of Kalanithi Maran, Kal Airways Pvt Ltd in SpiceJet has been transferred to Ajay Singh, the airline has informed the Bombay Stock Exchange.
At about 11 am, SpiceJet shares were trading up 1.04 per cent at Rs. 24.25 on the BSE.
The statement said with the share transfer Ajay Singh has become the promoter of the company and Kalanithi Maran and Kal Airways Pvt Ltd have ceased to be promoters of the company.
It was on January 15 this year that Kalanithi Maran and Ajay Singh signed an agreement for the transfer of the 58.46 per cent stake held by the Marans to Ajay Singh.
The share transfer has now happened days after the buy-out was cleared by the Competition Commission of India.
Ajay Singh is putting together a team which plans to pump in $200 million into the airline. The need for a new investor was felt as the airline owed Rs. 1,600 crore to debitors as of December 5 last year.
24/02/15 Business Line
At about 11 am, SpiceJet shares were trading up 1.04 per cent at Rs. 24.25 on the BSE.
The statement said with the share transfer Ajay Singh has become the promoter of the company and Kalanithi Maran and Kal Airways Pvt Ltd have ceased to be promoters of the company.
It was on January 15 this year that Kalanithi Maran and Ajay Singh signed an agreement for the transfer of the 58.46 per cent stake held by the Marans to Ajay Singh.
The share transfer has now happened days after the buy-out was cleared by the Competition Commission of India.
Ajay Singh is putting together a team which plans to pump in $200 million into the airline. The need for a new investor was felt as the airline owed Rs. 1,600 crore to debitors as of December 5 last year.
24/02/15 Business Line
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