There could happen one more round of merger in the Indian aviation sector as the Vijay Mallya-owned Kingfisher Airlines has entered the final leg of acquiring a stake in the low cost carrier SpiceJet. The chief of United Breweries, Vijay Mallya reportedly wants a 26 per cent stake and therefore is heard to be engaged in talks with SpiceJet's main promoter Bhupendra Kansagra in Europe for buying his 12.91 per cent stake. Mallya is also keen on acquiring the 13.42 per cent stake of Dubai-based investment firm Istithmar PJSC.  

It is estimated that Vijay Mallya may have to invest around Rs 145 to Rs 155 Crore for this deal. The SpiceJet is valued at over Rs 600 Crore at current stock prices. Its share closed at Rs 25 on Friday. Due to spiraling fuel prices, the SpiceJet is learnt to be losing out Rs 70 lakh on a daily basis and is thus looking for fresh infusion of funds to survive. Experts state that its attempt to keep afloat by raising $100 million through debt-equity would not have sufficed because it would have been tough to get investors for this floundering business. The lock-in period of Kansagra and Istithmar ended this February and so they can now sell stakes.