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Spicejet founder pledges 14.8% of equity

This article was posted on Apr 5, 2011 and is filed under Market News

Budget carrier Spicejet said on Monday its founder Kal Airways Pvt Ltd has pledged 60.15 million shares or 14.84% of the total outstanding equity.

It did not say who the shares had been pledged with.

Last June, Sun TV founder Kalanidhi Maran and his unlisted firm Kal Airways bought almost 38% in the carrier.

Source: Business Standard

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