Published on Wed, Jul 21, 2010 at 10:30 | Source : Reuters
Updated at Wed, Jul 21, 2010 at 10:40
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SpiceJet looking at rights issue in Sept-Oct
The new management of budget airline SpiceJet Ltd is considering a rights issue after the open offer of media baron Kalanithi Maran closes on Aug. 25, DNA Money said on Wednesday, citing two sources familiar with the development.
The new management of budget airline SpiceJet Ltd is considering a rights issue after the open offer of media baron Kalanithi Maran closes on Aug. 25, DNA Money said on Wednesday, citing two sources familiar with the development.
The airline is looking at coming out with the issue around September or October, the newspaper quoted one of the sources as saying.
A second source told the paper the firm was looking at raising USD 50-USD 60 million.
A spokesperson for SpiceJet did not immediately offer any comment when contacted by Reuters.
Maran and his unlisted aviation firm, Kal Airways, have agreed to buy 37.7% in SpiceJet from US investor Wilbur Ross and Royal Holdings Services for Rs 739 crore.
