Ajay Singh becomes SpiceJet's promoter

Spicejet Ltd has informed BSE that following the transfer of entire share holding of Kalanithi Maran and Kal Airways Private Ltd, Ajay Singh has become the promoter of SpiceJet.

"Following the Share Sale and Purchase Agreement dated January 29, 2015 between the Company, Kalanithi Maran, Kal Airways Private Limited and Ajay Singh, the entire shareholding of Kalanithi Maran and Kal Airways Private Limited (the existing Promoters) aggregating to 350,428,758 equity shares (58.46%) has been transferred to Ajay Singh on February 23, 2015," SpiceJet said in a filing to stock exchange.

"Consequently, 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 statement added.