Kalanithi Maran may raise around R400-500 Cr from the market to retire the debt raised from banks for operational needs.
The SpiceJet promoter hinted at a few MNC banks including a European one to find investors, according to ET. It also mentioned that the promoter is willing to collateralise Sun TV shares along with real estate assets of the group.
However, Sun Group's CFO, SL Narayanan denied any such plans of the promoter.
Maran had infused R130 Cr in SpiceJet last year after subsequently increasing his stake in the company through capital infusions. His current stake stands at around 48.59% as on June 2012 and over the past couple of years he invested more than R230 Cr in the airline after putting in another R100 Cr this year.