SpiceJet raises Rs 54.27 crore from Kalanithi Maran

MUMBAI: Budget carrier SpiceJet has raised Rs 54.27 crore through issue of warrants to promoter KalanithiMaran.

"... the company has allotted 15,000,000 warrants, having option to apply for and be allotted equivalent number of equity shares of the face value of Rs 10 each at a premium of Rs 26.18 to promoter Kalanithi Maran on preferential basis," SpiceJet said in a filing to the BSE today.

According to a separate stock exchange filing by the company, Kalanithi Maran and Kal Airways have increased their holding in SpiceJet to 53.48 per cent.

As on September quarter, both the promoters held 48.59 per cent stake in the airline.

The company's shareholders last month approved proposals to raise Rs 145 crore through issue of debentures and warrants, on preferential basis, to Kalanithi Maran.

SpiceJet has earlier raised Rs 130 crore through issue of securities in two tranches to Maran.

SpiceJet operates over 300 daily flights. Shares of the company ended flat at Rs 45.55 on the BSE.