Spicejet's stock zoomed 17.32 per cent to Rs 21.40 on the BSE.
Amid the no frills carrier facing tough business conditions, Rare Enterprises on Friday picked up 75 lakh shares of SpiceJet for more than Rs 13 crore through the open market route.
The share purchase comes days after SpiceJet saying that a few parties have evinced interest in making investments in the carrier.
According to the bulk deal details on the BSE, based on the total number of Spicejet shares at the end of September quarter, more than 53.5 crore, the 75 lakh shares bought by Rare would amount to about 1.4 per cent stake.
The sellers of the Spicejet shares could not be ascertained.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%