Promoter Ajay Singh sells nearly 1% stake in SpiceJet for Rs 52 crore

Ajay Singh, one of many promoters and MD of SpiceJet, on Thursday divested nearly 1 per cent stake in the finances airline for Rs 52 crore by an open market transaction. In line with the majority deal information on the BSE, Ajay Singh offered over 1.15 crore shares, amounting to a 0.9 per cent stake in Gurugram-based SpiceJet.

The shares have been disposed of at a mean worth of Rs 45.34, taking the transaction worth to Rs 52.31 crore.

After the stake sale, Singh’s holding in SpiceJet has come right down to 22 per cent from 22.90 per cent. Additionally, the mixed shareholding of promoters and promoter group of the corporate has declined to twenty-eight.23 per cent from 29.13 per cent.

Particulars of the customer(s) of SpiceJet’s shares couldn’t be ascertained on the alternate.

Shares of SpiceJet on Thursday declined 6.38 per cent to shut at Rs 45.48 apiece on the BSE.

Earlier, the finances airline was going through a recent spherical of troubles as three Eire-based plane lessors and a former pilot filed insolvency pleas in NCLT towards the finances service, claiming defaults. Three lessors – NGF Alpha, NGF Genesis and NGF Charlie – filed petitions underneath Part 9 of IBC, searching for initiation of insolvency proceedings towards SpiceJet claiming dues totalling USD 12.68 million (about Rs 110 crore). Later, the corporate clarified that through the proceedings of NCLT, it sought a while to resolve the matter as settlement talks have been happening.

Final month, SpiceJet reported a revenue after tax of Rs 26 crore for the three months ended December 2024, helped by general improved efficiency.

The service had posted a lack of Rs 300 crore in the year-ago interval. Its whole income stood at Rs 1,077 crore in the 2024 September quarter.

Nevertheless, in comparison with Rs 2,149 crore reported for the three months ended December 2023, the full income is decrease in the most recent December quarter.