Low-cost carrier SpiceJet on Monday alloted 1.5 crore equity shares to its promoter Kalanithi Maran after an equal number of warrants worth Rs 54.27 crore were converted.

“The company on November 30 allotted 1,50,00,000 equity shares of Rs 10 each, to Kalanithi Maran, pursuant to exercise of conversion right attached to 1,50,00000 warrants issued on preferential basis, at an issue price of Rs 36.18 per equity share, in accordance with the SEBI,” Spicejet said in a filing to the BSE today.

The overall holding of the promoters in the airline stood at 52.14 per cent at the end of the September quarter.

The airline currently operates more than 350 daily flights to over 50 Indian cities besides 8 international destinations.

Shares of the company were trading at Rs 17.45, down 1.69 per cent, on the BSE in the late afternoon trade.

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