Mumbai-based couple acquires 19% stake in SpiceJet for Rs. 1,100cr
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Mumbai-based entrepreneur Harihara Mahapatra and his wife Preeti will acquire a 19% stake in budget airline SpiceJet, investing Rs. 1,100 crore. This makes the couple the largest investors in the airline's latest fundraising effort, as SpiceJet is also considering purchasing Wadia-group-owned GoFirst. Shareholders have been asked to vote on a proposal to raise Rs. 2,254 crore by issuing convertible warrants and new equity shares at a price of Rs. 50 each.