SpiceJet shares rise 8 per cent on reports of Kuwait Airways buying stake
15 Jul 2013
SpiceJet shares vaulted nearly 8 per cent today following a report that Kuwait Airways was looking to acquire a 25 per cent stake in the carrier, PTI reported today.
The low-cost carrier confirmed a number of foreign airlines had evinced interest in taking a stake in it.
In a filing to the bourses, SpiceJet said: "We reiterate that a few investors have evinced interest in the company post Government of India allowing FDI in civil aviation sector to foreign airlines.
It will be very pre-mature to comment on the possibilities of any fresh equity issuance to such interested parties or confirm/deny names of any specific entity."
The company, however, denied Kuwait Airways was among the interested parties.
"We would like to reiterate that these are speculative media reporting," the statement added.
Shares of the company shot 9.56 per cent to Rs30.35 in intra-day trade on the Bombay Stock Exchange before settling at Rs29.90, up 7.94 per cent from its previous close.
As regards traded volumes, some 6.94 million shares of the company changed hands.
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