Businessman Harihara Mahapatra and his wife Preeti Mahapatra are likely to invest ₹1,100 crore in SpiceJet in return for a 19% stake in the companies.
According to the Economic Times, which reviewed a detailed funding proposal, Aries Opportunities Fund will hold 3% while Elara Capital will hold 8%.
The development comes as SpiceJet last week announced that several high-net individuals will invest over ₹2,000 crore in it through 130 million convertible warrants and 320.8 million fresh equity shares. This is likely to reduce promoter Ajay Singh’s current shareholding in the airline from 56.49% to at least 38.55%, reported ET.
