As part of the June deal to acquire 37.7 per cent stake in low-cost carrier SpiceJet, Sun TV promoter Kalanithi Maran and his firm KAL Airways have bought 7.42 per cent equity for Rs 135.10 crore. This was an off-market transaction, following which, Maran’s direct stake in the airline now has increased to 25.12 per cent.
Last week, Maran had increased his direct stake in the company to 17.71 per cent through similar transactions. In June, the Chennai-based industrialist had clinched a deal to acquire 37.7 per cent stake in the low-cost carrier for about Rs 750 crore.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app