7-Jul-2010 10:47 AM

SpiceJet shareholder sells more stock in bulk deals

SpiceJet announced Istithmar World PJSC sold 22 million shares at INR53.55 (USD1.1) for INR1.2 billion (USD25.6 million) on the Bombay Stock Exchange (BSE) (The Hindu Business Line, 06-Jul-2010). Legg Mason Southeast Asia Special Situations Trust and DB Fund Mauritius Ltd bought 6.47 million and 5.08 million shares, respectively, in bulk deals for INR346 million (USD7.4 million) and INR273 million (USD5.8 million), respectively. Legg Mason bought theirs at INR53.50 (USD1.1) per share, while DB Fund bought at INR53.70 per share share. On 05-Jul-2010, SpiceJet informed the BSE it had acquired 22.14 million shares through the conversion of foreign convertible currency bonds worth INR553.4 million. In Jun-2010, Kalanithi Maran acquired a 37.7% stake in SpiceJet for INR7.4 billion (USD157.8 million). In Feb-2010, Istithmar sold part of its 13.39% stake in the carrier for INR1.63 billion (USD34.8 million) to DWS Invest BRIC Plus Fund, Reliance Mutual Fund and Birla Mutual Fund.