<p>The move comes two days after Maran, Chairman and MD of Chennai-based Sun TV Network, agreed to acquire 37.73 per cent stake in the company in his individual capacity and through his aviation company KAL Airways, at Rs 57.76 a share -- a premium of 3 per cent over Friday's closing of Rs 56.05.<br /><br />"The acquirers... hereby make this offer to shareholders of the target (SpiceJet) to acquire up to 8,29,80,161 equity shares... of face value of Rs 10 each, representing in aggregate 20 per cent of ...the target company at a price of Rs 57.76 per fully paid-up equity share...," KAL Airways' offer manager Enam Securities said in an advertisement on Monday.<br /><br />The offer, to be launched on August 6, would close on August 25, it said.<br />Last week, Maran and KAL Airways acquired the stake from former SpiceJet promoters American investor Wilbur Ross and his investment companies, and Kansagara family-promoted Royal Holding Services Ltd.<br /><br />Maran bought the 37.73 per cent stake at a price of around Rs 47.25 per share, entailing a total payout of about Rs 739 crore.<br /><br />As on March 31, 2010, the public shareholding in SpiceJet stood at 87.15 per cent including 34.28 per cent held by institutional investors from India and abroad.<br />SpiceJet shares gained as much as 6 per cent to Rs 59.55 and were trading at 55.30 a share, down 1.34 per cent over the previous close on the Bombay Stock Exchange.<br />For some time, SpiceJet had been in the process of raising USD 75 million (about Rs 350 crore) through placement of shares.<br /><br />The airline, India's second largest low-cost carrier, has a market share of about 13 per cent with a fleet size of 20 aircraft -- connecting 19 destinations across the country.<br />It plans to launch international flights, starting with services to Bangladesh and Nepal, from this month. It recently received the government's approval to start international operations and reported a revenue of Rs 2,242 crore and a profit of Rs 61.4 crore for the year ended March 31, 2010.</p>.<p>Maran's Sun TV Network has a significant presence in the print and television media. The network operates about 20 television channels in different languages, besides owning FM channels and newspapers.<br /><br />The group raked in a profit of Rs 519 crore for the year ended March 31,2010. During the same period, Maran and his wife, Kaveri Kalanithi, together took home an annual compensation of Rs 74.16 crore.</p>
<p>The move comes two days after Maran, Chairman and MD of Chennai-based Sun TV Network, agreed to acquire 37.73 per cent stake in the company in his individual capacity and through his aviation company KAL Airways, at Rs 57.76 a share -- a premium of 3 per cent over Friday's closing of Rs 56.05.<br /><br />"The acquirers... hereby make this offer to shareholders of the target (SpiceJet) to acquire up to 8,29,80,161 equity shares... of face value of Rs 10 each, representing in aggregate 20 per cent of ...the target company at a price of Rs 57.76 per fully paid-up equity share...," KAL Airways' offer manager Enam Securities said in an advertisement on Monday.<br /><br />The offer, to be launched on August 6, would close on August 25, it said.<br />Last week, Maran and KAL Airways acquired the stake from former SpiceJet promoters American investor Wilbur Ross and his investment companies, and Kansagara family-promoted Royal Holding Services Ltd.<br /><br />Maran bought the 37.73 per cent stake at a price of around Rs 47.25 per share, entailing a total payout of about Rs 739 crore.<br /><br />As on March 31, 2010, the public shareholding in SpiceJet stood at 87.15 per cent including 34.28 per cent held by institutional investors from India and abroad.<br />SpiceJet shares gained as much as 6 per cent to Rs 59.55 and were trading at 55.30 a share, down 1.34 per cent over the previous close on the Bombay Stock Exchange.<br />For some time, SpiceJet had been in the process of raising USD 75 million (about Rs 350 crore) through placement of shares.<br /><br />The airline, India's second largest low-cost carrier, has a market share of about 13 per cent with a fleet size of 20 aircraft -- connecting 19 destinations across the country.<br />It plans to launch international flights, starting with services to Bangladesh and Nepal, from this month. It recently received the government's approval to start international operations and reported a revenue of Rs 2,242 crore and a profit of Rs 61.4 crore for the year ended March 31, 2010.</p>.<p>Maran's Sun TV Network has a significant presence in the print and television media. The network operates about 20 television channels in different languages, besides owning FM channels and newspapers.<br /><br />The group raked in a profit of Rs 519 crore for the year ended March 31,2010. During the same period, Maran and his wife, Kaveri Kalanithi, together took home an annual compensation of Rs 74.16 crore.</p>