SpiceJet allots 4.29 crore shares to Kalaniti Maran

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Low-cost carrier SpiceJet on Tuesday said it has allotted 4.29 crore shares to promoter Kalanithi Maran at Rs 23.18 per share.

"Pursuant to the shareholders' approval, on April 10, 2012, the company has allotted 42,900,000 equity shares of Rs 10 each at a price of Rs 23.18 per share to Kalanithi Maran, promoter of the company on preferential basis," SpiceJet said in a filing with the Bombay Stock Exchange.

Maran, the media baron-turned airline owner, took over as the chairman of SpiceJet in November 2010 after buying out stake held by the US-based private equity investor Wilbur Ross.

The Chennai-headquartered airline, which had market share of 16.3 per cent in February, operates 272 flights per day across 36 destinations, including two international routes, with a fleet of 39 aircraft comprising Boeing 737-800/900 and Bombardier Q-400.