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12-Nov-2010 10:27 AM

KAL Airways and Kalanithi Maran raise direct holding in SpiceJet to 38.66%

KAL Airways and Kalanithi Maran raised their direct holding in SpiceJet to 38.66% through the purchase of an additional 7.68% stake, or 31.08 million shares, for INR146.8 crore (USD32.9 million) (Press Trust of India, 11-Nov-2010). SpiceJet plans to hold a board meeting on 15-Nov-2010 to assess the response of investors to Mr Maran and KAL Airways' open offer for an additional 20% equity in the carrier.

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