Rakesh Jhunjhunwala buys 1.4 per cent stake in SpiceJet

Rakesh Jhunjhunwala has acquired a 1.4 per cent stake in Kalanithi Maran-owned SpiceJet.

According to the Bombay Stock Exchange's bulk deals data, the ace investor's Rare Enterprises has purchased 75 lakh equity shares, worth Rs 13.41 crore, in the low-cost airline.

The news comes amid reports debt-ridden SpiceJet is in talks with investors to raise fresh capital.

The airline narrowed its loss by 45 per cent in the July-September quarter to Rs 310.44 crore. This was on the back of higher load factor and passenger revenue and lower expenses.

As of September 30, Kal Airways holds 29.24 per cent in the airline, while Kalanithi Maran held 24.24 per cent. During the same period Ewart investments held 1.79 per cent while Kalpana Singh held 1.41 per cent stake in the airline.

Shares of SpiceJet on Friday closed 18.36 per cent higher on the Bombay Stock Exchange.