Saturday, January 27, 2007

Tata group's stake in SpiceJet may rise to 15%

New Delhi: Tata group investment arm Tata Investment Corporation Ltd is likely to increase its stake in SpiceJet from 7% to 11%, which is further likely to increase to 15%, a highly placed industry source told FE. The Tatas, however, denied the development saying, “The group statement is that there is no truth about raising (SpiceJet) stake.”
On January 11, 2006, Spicejet approved the 25% issue of fresh shares worth $72 million.
With the dilution, the stake held by the Kansagara family, has come down from 17% to 13%.
27/01/07 Financial Express