SpiceJet's Promoter Group Shareholding Set to Rise Amidst Strategic Moves

SpiceJet's promoter group shareholding is expected to increase from 29.11% to 33.47% following strategic moves. Recently, Ajay Singh, the airline's CMD, sold nearly 1% of his stake for ₹52 crore, reducing his holding to 22% from 22.9%. Meanwhile, Spice Healthcare, part of the promoter group, has exercised options to convert warrants into shares, which will boost its stake in SpiceJet. Additionally, Ajay Singh plans to dispose of up to 31.5 million shares, further adjusting the ownership structure. These changes come as SpiceJet navigates financial challenges, including insolvency petitions from aircraft lessors.

 

Source: NSE, BSE, Economic Times, Reuters