Why has SpiceJet share price rallied 8% today; find out here
SpiceJet share price climbed nearly 8% on Friday, February 27, after Authum Investment invoked pledged of shares worth 6.8% stake of the airline.
In a regulatory filing, Authum disclosed that it acquired 10.37 crore equity shares of SpiceJet on February 25 by invoking pledged shares linked to outstanding dues of Spice Healthcare Pvt. Ltd. These shares had originally been pledged by promoter Ajay Singh as collateral against the borrower’s obligations. Following the invocation, the entire 10.37 crore shares were transferred to Authum’s demat account.
