SpiceJet share price jumps nearly 5% as promoter group to raise stake to 33.47% through conversion of 13.14 crore equity shares

Post completion of the transaction, the promoters group stake in the company will increase to 33.47% from the present 29.11%.

Promoter and Managing Director Ajay Singh will also sell up to 3.15 crore shares of SpiceJet and utilise the proceeds to enable Spice Healthcare Private Limited to "partially fund the balance of 75% of the amount at the time of allotment of the equity shares pursuant to exercise of option to convert said warrants," the company said in an exchange filing.

"It is proposed to convene a meeting of the Board/Board Committee of the Company on or before March 18, 2025 (Tuesday) for the purpose of allotment of such equity shares pursuant to the exercise of the option to acquire equity shares in respect of aforesaid Warrants," it added.

SpiceJet share price

The stock advanced 4.82% to ₹47.67 apiece on the National Stock Exchange (NSE) at 10:13 am.

The company's market capitalisation stands at ₹6,109.80 crore.

On Friday, Ajay Singh divested nearly 1% stake in the airline for ₹52 crore via an open market transaction.

Last month, SpiceJet posted a profit after tax (PAT) of ₹26 crore for the third quarter of the financial year 2025, helped by overall improved performance. The low-cost airline had posted a loss of ₹300 crore in the year-ago fiscal.

The airline posted a revenue of ₹1,651 crore for the December quarter as compared to ₹2,149 crore in a year back and ₹1,077 crore in the September quarter.

In the quarter under review, the company also raised ₹3,000 crore from qualified institutional investors.