Kalanithi Maran buys 5% more in SpiceJet

Sun TV founder Kalanithi Maran and his unlisted aviation firm Kal Airways Pvt Ltd have acquired 19.37 million shares, or 5.03% more, in low-cost carrier SpiceJet, BSE data showed on Wednesday.                                           
 

The shares were acquired on October 5 through an off-market transaction. Maran's direct holding in SpiceJet now stands at 17.72%.                                            
 

In June, Maran and Kal Airways had agreed to buy 37.7% in the carrier from US investor Wilbur Ross and Royal Holdings Services, held by the Kansagra family, for Rs7.39 billion at Rs47.25 a share.