Kamlesh Auto buys SpiceJet shares worth over Rs 6 crore

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.