Recently the Sun TV Promoter Kalanithi Maran, has acquired 37.75% in the low-cost carrier SpiceJet at Rs 47.25 per share which comes around a approximate value of Rs 750 crore. According to the deal, the aviation company shall take on to acquire the stake from its promoters Wilber Ross and Bhupendra Kansagara.

Further Maran has decided to throng an open offer of 20% at around Rs 57 per share. The open offer is expected to be made on Monday.

The M&A advisors for this acquisition was Ernst and Young for Maran in the SpiceJet deal, on the other hand side it was Edelweiss to advise WL Ross and B Kansagara. Maran has bought the stake in individual capacity.

Among the other stakeholders, one of the promoter, Ajay Singh along with his family hold 10% while the Goldman Sachs holds around 6% in the same deal. The promoter, Kansagra Family, holds 12%, but over 50% of these shares are pledged.

The SpiceJet shares closed at around Rs 56.05 on Friday at the BSE exchange, estimated a 3% decline from its previous close, despite the Sensex moving for a close at 142 points.