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Kalanithi Maran Makes Open Offer For SpiceJet - Printable Version

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Kalanithi Maran Makes Open Offer For SpiceJet - Sathish - 06-14-2010

After acquiring about 37 percent stake in the SpiceJet airways, Kalanithi Maran on Monday made the mandatory open offer to buy another 20 percent from the public at Rs. 57.76 per share.

The offer has been made by KAL Airways based on two-week average daily high and low price of SpiceJet equity shares on the Bombay Stock Exchange. KAL Airways has been promoted by Kalanithi Maran and his wife Kaveri.

SpiceJet, which is running on profit, is expected to shift its registered office from Gurgaon after acquisition, reports said.

Sources said that the name of the company might be changed and after its acquisition. However, the promoters have undertaken not to sell any of the company’s assets.

Some of the other businesses of Kalanithi Maran include 20 TV channels, about 45 FM radio stations, two daily newspapers, 4 magazines, provides DTH services and is also into movie business.

As on June 10, his net worth is Rs. 13,384 crore, sources said.