Check out the net worth of Harihara Mahapatra
This substantial investment by Harihara Mahapatra and Preeti Mahapatra is set to secure them a combined 19% stake in SpiceJet, underlining their confidence in the airline’s potential for growth.
In a significant move that is poised to reshape the trajectory of SpiceJet, the dynamic husband-wife duo, Harihara Mahapatra and Preeti Mahapatra have announced their plans to invest a staggering ₹1,100 crore in the airline.
Who is businessman and SpiceJet investor Harihara Mahapatra, biography, age, wife, business, net worth
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
Mumbai-based Harihara Mahapatra, Preeti Mahapatra to invest ₹1,100 crore in SpiceJet, will hold over 21% stake.
(SpiceJet has expressed interest in buying Go First.) pic.twitter.com/TyispwAszk
— Marketing Maverick (@MarketingMvrick) December 20, 2023
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. Armed with an MBA degree, Harihara brings 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.
Harihara Mahapatra and Preeti Mahapatra serve as promoters of Mahapatra Universal Limited, a Mumbai-based conglomerate with businesses in various sectors, including real estate, infrastructure, consulting, consumer, retail.
The Mahapatra Universal Limited website sheds light on Harihara’s ambitious journey, from manufacturing to financial services. Notably, his past endeavor to construct the country’s tallest building in Khajod, Gujarat, reflects a bold vision, even if the plan faced challenges.
Complementing Harihara’s expertise, his wife 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.
The Mahapatra power couple’s foray into the aviation sector with the SpiceJet investment aligns with the airline’s recent announcement of attracting over ₹2,000 crore from high-net individuals through convertible warrants and fresh equity shares. This infusion of capital is set to dilute the current shareholding of SpiceJet’s promoter, Ajay Singh, from 56.49% to at least 38.55%.
As per media reports, Aries Opportunities Fund and Elara Capital are also key players in this funding proposal by holding 3% and 8% stakes, respectively. The strategic distribution of shares among these investors suggests a carefully orchestrated plan to bolster SpiceJet’s financial health.
Beyond their investment in SpiceJet, the Mahapatras have been actively involved in various sectors, showcasing a penchant for diversification. The announcement comes hot on the heels of SpiceJet expressing interest in acquiring Go First, a move that further underscores their ambitions and strategic vision for the aviation industry.
This development not only underscores the Mahapatras’ confidence in SpiceJet’s potential but also hints at a broader strategy to shape the future of the airline industry. The move to explore the acquisition of Go First adds an intriguing layer to their involvement, signaling a proactive approach in navigating the evolving dynamics of the aviation sector.