Shares of SpiceJet rallied as much as 20 percent intraday before closing with 15 percent gains on Friday as CNBC-TV18 reports quoting sources that Sun Group may have finally finalised an investor for partially or completely offloading its stake in company.
Sources say talks are in the final stages and a term sheet may be signed by December.
As per the talks with investors, SpiceJet is valued at Rs 1500 crore. Sun Group holds 53.4 percent stake in SpiceJet. It is not yet clear whether SpiceJet promoter and media baron Kalanithi Maran is mulling to exit completely from the low-cost airline.
The company is exploring various options to further capitalize, sources add.
SpiceJet reported a net loss of Rs 310 crore for the second quarter ended September 30, 2014. The airline had posted a net loss of Rs 559 crore in the corresponding quarter of the last financial year, the company said in a BSE filing. SpiceJet witnessed a 15 percent growth in total revenue in comparison to same quarter last year, the company said.
The stock rose 14.96 percent to close at Rs 16.06 amid huge volumes on the Bombay Stock Exchange.
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