SpiceJet Promoter K Maran May Raise Funds To Pay-off Debt
by Paritosh Gajjar
Kalanithi Maran may raise around R400-500 Cr from the market to retire the debt raised from banks for operational needs.
The SpiceJet promoter hinted at a few MNC banks including a European one to find investors, according to ET. It also mentioned that the promoter is willing to collateralise Sun TV shares along with real estate assets of the group.
However, Sun Group's CFO, SL Narayanan denied any such plans of the promoter.
Infrastructure company IVRCL has sold its entire 75% stake in Chennai Water Desalination Ltd to Dubai based Utico FZC. The deal provides the plant having a networth of R24 Cr with an equity valuation of R150 Cr.