SpiceJet says Ajay Singh back as promoter; Marans exit


Completing its ownership transfer, SpiceJet today said Ajay Singh has become the promoter after acquiring the entire 58.46 per cent stake from the Marans.
Singh, the original promoter of SpiceJet, is now back at the helm as part of a revival plan that would also be seeing a capital infusion of Rs 1,500 crore into the low-cost carrier.
Shares of the airline rose over one per cent to Rs 24.35 on the BSE in early morning trade.
As part of a share sale and purchase agreement, Marans have transferred their 58.46 per cent to Singh on February 23, SpiceJet said in a regulatory filing.
"Ajay Singh has become the promoter of the company and Kalanithi Maran and Kal Airways Private Limited have ceased to be promoters of the company," the filing said.
Kalanithi Maran and Kal Airways have transferred over 35 crore shares or 58.46 per cent stake to Singh. 
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