Kamlesh Auto buys over Rs 6 crore-worth SpiceJet shares
In beleaguered SpiceJet hitherto unknown Kamlesh Auto has purchased shares worth over Rs 6.3 crore through a bulk deal. Kamlesh Auto acquired 35 lakh shares at a price of Rs 18.23 apiece. At that price, total value of the transaction is worth over Rs 6.3 crore, according to a filing by the carrier to the Bombay Stock Exchange (BSE). Shares of SpiceJet rose marginally to settle at Rs 18.40 on the BSE on Monday. The bulk deal comes at a time when the crisis-hit airline is expected to receive the first round of funding as part of an estimated $200 million investment plan. SpiceJet had presented a revival plan to the Civil Aviation Ministry in late December but was asked to submit a revised plan with more details. The carrier’s founding promoter Ajay Singh has also come to the rescue, with Singh and a US-based investment fund planning to invest in the airline.
Kamlesh Auto buys over Rs 6 crore-worth SpiceJet shares
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