Shares of SpiceJet on Wednesday settled for the day with gains of over 3.31 per cent, thereby adding Rs. 47 crore to its market capitalisation after Ajay Singh became the new promoter of the company.
During the day, the stock had surged 6.41 per cent to touch a 52-week high of Rs. 25.70 on the BSE. The stock lost some ground and was trading at Rs. 24.95, up 3.31 per cent over its previous closing price at the end of today’s trade.
Accordingly, the market capitalisation of the company surged by Rs. 46.95 crore to Rs. 1,495.63 crore.
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The market capitalisation of the company at the end of yesterday’s trading session stood at Rs. 1,448.68 crore.
SpiceJet on Tuesday said that Ajay Singh has become the promoter after acquiring the entire 58.46 per cent stake from the Marans.
“Ajay Singh has become the promoter of the company and Kalanithi Maran and Kal Airways Private Limited have ceased to be promoters of the company,” SpiceJet said in a filing on Tuesday.
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Kalanithi Maran and Kal Airways have transferred over 35 crore shares or 58.46 per cent stake to Mr. Singh.
In late January, SpiceJet board had approved transfer of entire 58.46 per cent stake of Marans to Singh, while the company would raise Rs. 1,500 crore through issuance of fresh securities under a revival plan.
The deal has already received clearance from the Competition Commission of India (CCI).