Istithmar World sells 6.89% stake in Spicejet

Istithmar World PJSC has sold 2.21 crore shares, representing 6.89 per cent stake in Spicejet at Rs 53.55 per share, aggregating to Rs 118.54 crore, according to the bulk deal data available on the BSE. Istithmar World informed the BSE that it had acquired 22.14 million shares on conversion of foreign convertible currency bonds worth Rs 55.34 crore. In February, Istithmar had sold nearly 14 per cent stake in the airline for Rs 164 crore.

Last month, media magnate Kalanithi Maran’s KAL Airways had acquired nearly 37.7 per cent stake in SpiceJet for about Rs 740 crore from investors Wilbur Ross and B Kansagara. Maran had then launched an open offer to acquire an additional 20 per cent in the no-frills carrier for Rs 57.76 a share. In another bulk deal on the BSE, Legg Mason Southeast Asia Special Situations Trust and DB Fund Mauritius has acquired 1,15,61,312 shares of Spicejet.