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Rakesh Jhunjhunwala buys 1.4% stake in SpiceJet

According to block deal data, Jhunjhunwala bought 75 lakh shares of SpiceJet on Friday.

India Business Hour

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The News International Team

Rakesh Jhunjhunwala has acquired 1.4 percent stake in SpiceJet . The debt-laden Kalanithi Maran-owned airline has been in talks with investors to raise fresh capital, the company had said on Monday.

The budget airline’s shares closed with 18.36 percent increase in BSE to Rs 18.24 on Friday.

According to block deal data, Jhunjhunwala bought 75 lakh shares of SpiceJet today.

SpiceJet, which has lost money for five consecutive quarters, has been trying to raise new money for much of this year. The airline said in May it was in “advanced” talks for a capital infusion but no deal materialised.

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.

SpiceJet stock price

On November 28, 2014, SpiceJet closed at Rs 18.24, up Rs 2.83, or 18.36 percent. The 52-week high of the share was Rs 22.20 and the 52-week low was Rs 11.10.


The latest book value of the company is Rs -16.49 per share. At current value, the price-to-book value of the company was -1.11.

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