BNP Paribas picks up 5.43 pc stake in Spicejet
Low-cost carrier Spicejet on Monday said it has allotted 1.30 crore equity shares to BNP Paribas Arbitrage Fund out of the proposed preferential issue of 7.20 crore equity shares for over Rs 68 crore.
By PTI |
MUMBAI: Low-cost carrier Spicejet on Monday said it has allotted 1.30 crore equity shares to BNP Paribas Arbitrage Fund out of the proposed preferential issue of 7.20 crore equity shares for over Rs 68 crore.
BNP Paribas Arbitrage Fund acquired about 1.30 crore shares, representing 5.43 per cent stake in the airline company through the preferential allotment, Spicejet informed the BSE.
The shares so allotted were issued at a price of Rs 52.69 per equity share, raising an amount close to Rs 68 crore, the company has said in an announcement.
Other investors apart from BNP Paribas, who also picked up significant stakes in Spicejet, are Tata Group, Ishtitmar, Telemnix, Goldman Sachs and UK's KBC Fund.
Spicejet had informed the Bombay Stock Exchange recently that it would offer equity shares on preferential basis to various foreign and domestic investors.
ADVERTISEMENT
In December, it had planned to sell $80 million worth of shares on a preferential basis. The company had, however, received offers amounting to $118 million. Texas Pacific group, a leading global private investment which also wanted to invest in the carrier later withdrew the offer.Spicejet's offering of shares on preferential basis was aimed at raising funds for non-aircraft capacity expansion purposes like, investment in engineering and strengthening call centers.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
