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Shares of budget airline SpiceJet are trading higher by 2% to Rs 25 on the BSE after Ajay Singh became the promoter after acquiring the entire 58.46% stake from the Marans.
Singh, the original promoter of SpiceJet, is now back at the helm as part of a revival plan that would also be seeing a capital infusion of Rs 1,500 crore into the low-cost carrier.
"Ajay Singh has become the promoter of the company and Kalanithi Maran and Kal Airways Private Limited have ceased to be promoters of the company," the filing said.
The stock opened at Rs 24.30 and touched a high of Rs 25 on the BSE. A total of 5,449,079 shares changed hands on the BSE so far.
