SpiceJet up 2% on stake sale news
Shares of SpiceJet rose around 2.29% to Rs 35.75 on reports of a likely stake sale by the company.
Shares of SpiceJet rose around 2.29% to Rs 35.75 on reports of a likely stake sale by the company. Media baron Kalanithi Maran and his wife Kavery Kalanithi have resigned from the board of directors of Kal Airways, the holding company of SpiceJet- a move suggesting that promoters may want to rope in an investor by offering a large and perhaps controlling stake, states a report in The Financial Express.
However, S.L. Narayanan, the group CFO of Sun underplayed reports that a stake sale of SpiceJet is on cards. He told a television channel that Maran quit Kal Airways to only reduce the number of directorship he holds and potential sale talks are not even at an exploratory stage.
Kal Airways along with Marans hold over a 48 percent stake in SpiceJet