UPDATE: Istithmar Exit deflates SpiceJet's Capital Raising Plans
SpiceJet is looking to raise between $50-75 million and has appointed Edelweiss to find a strategic investor. News comes after Istithmar's open market sale.
Sun TV promoter Kalanithi Maran is one of the investors being solicited, according to ET. Mr Maran was earlier interested in buying into Star Aviation.
Istithmar's sold 13.39% in SpiceJet through open market yesterday. This has affected SpiceJet plans. Istithmar still holds 8.5% in the company through FCCB's. The company calls this a show of confidence in the by Istitmar in SpiceJet.
Link to Original Dealcurry Article.
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