Tata's stake in SpiceJet may rise to 15%

Tata group's investment arm Tata Investment Corporation Ltd is likely to increase its stake in SpiceJet from 7% to 11%, which is further likely to increase to 15%, a highly placed industry source said. On January 11, 2006, Spicejet approved the 25% issue of fresh shares worth $72 million. With the dilution, the stake held by the Kansagara family, has come down from 17% to 13%. SpiceJet increased its equity base from Rs 185 crore to Rs 242 crore through this fresh issue.

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