New Delhi, June 15: UB Group chief Vijay Mallya today said he was interested to come on board of SpiceJet, the Delhi-based low-cost carrier.

SpiceJet, however, made it clear that there was no room for Mallya. “We are not issuing any fresh equity to anyone and no promoter is selling stakes. We are right now extremely well funded. We do not need the money,” said Ajay Singh, director of SpiceJet.

“I have not initiated any talks as yet. But if they want maximum shareholder value, they will look at me,” Mallya told a television channel.

A number of equity funds have taken an exposure in SpiceJet. “We are honoured that Mallya is interested in us. But what can I say. We are a listed entity. There are small number of shareholders with floating stock in which anyone can trade,” Singh said.

Shares of SpiceJet, however, rose on reports that the company was in talks with local rivals Jet Airways and Kingfisher Airlines for a stake sale.

Jet Airways is reportedly eyeing the stakes held by Royal Holding Services Ltd and the UAE-based Istithmar in SpiceJet. Jet however, denied any such negotiations.

Royal Holding Services has a 12.91 per cent stake in SpiceJet. Istithmar holds 13.42 per cent and the Tatas about 6 per cent in the airline.

Royal Holdings is restricted from selling its stake under a shareholders’ agreement.

The UK-based Kansagras has majority control of the airline, which was earlier known as ModiLuft and was run by the S.K. Modi group.