New Delhi: Mumbai-based Odia businessman, Harihara Mahapatra and his wife Preeti will together acquire 19 per cent stake in the low-cost airline SpiceJet with an investment of Rs 1,100 crore, making them the biggest investors in the new fundraising by the airline, as revealed in a stock exchange filing by the airline.
Preeti Mahapatra will be issued 20 crore shares of the airline for an investment of Rs 1,000 crore and will hold a 17.66 per cent stake in the airline following the allotment of both shares and warrants by SpiceJet. Her husband, Hariahara Mahapatra, will be issued 2 crore shares of the airline for an investment of Rs 100 crore for a 1.77 per cent stake in the airline.
According to media reports, Hariahara hails from Odisha and he moved to Mumbai to become a builder, while his wife is from Vadodara.
Who is Harihara Mahapatra and his wife Preeti?
Harihara Mahapatra, an entrepreneur with a rich and diverse business background is the promoter of Mahapatra Universal Limited. Mahapatra Universal Limited is a Mumbai-based conglomerate operating in real estate, infrastructure, consulting, consumer, and retail sectors. An MBA degree holder, Harihara has over sixteen years of experience in building and leading investments across international, multicultural environments.
Harihara also had run-ins with the law with media reports stating an FIR was lodged against him with the Aurangabad police after a couple got duped out of Rs 5.5 crore over a building project which never happened.
According to the Mahapatra Universal Limited website, Harihara’s ambitious journey, from manufacturing to financial services. Notably, his past endeavour to construct the country’s tallest building in Khajod, Gujarat, reflects a bold vision, even if the plan faced challenges.
Preeti Mahapatra holds a master’s degree in International Business (Finance) and Export Management. Her notable achievements include successfully launching international brands in European, Asian, and Middle Eastern markets. Preeti’s multifaceted approach extends beyond business, as she actively runs a non-profit organization, showcasing a commitment to social responsibility.
In 2016, backed by the Bharatiya Janata Party (BJP), Preeti unsuccessfully ran as an independent candidate in the Rajya Sabha election from Uttar Pradesh, challenging (then) leader Kapil Sibal. She declared assets worth only Rs 23 crore and liabilities amounting to Rs 6 crore in her election affidavit filed that year. The net worth of her husband isn’t known, according to media reports.
Business couple Harihara, Preeti Mahapatra to invest ₹1,100 crore in SpiceJet: Report
Harihara Mahapatra and his wife are promoters of Mumbai-based Mahapatra Universal Limited which has a presence in real estate, infrastructure, consulting, consumer and retail businesses.… pic.twitter.com/wnsBWkbpZG
— Johny Bava (@johnybava) December 20, 2023
