India’s SpiceJet explores partial stake sale

SpiceJet Ltd promoter Ajay Singh is exploring the possibility of a partial stake sale, sources told news agency ANI, adding that the company continues to be in discussions with various investors to secure sustainable financing and will make appropriate disclosures in accordance with applicable regulations. Shares of SpiceJet jumped more than 10% on the BSE to 48 apiece in Wednesday’s early deals after the reports of the possibility of stake sale.

The low-cost carrier said it has entered into a full and final settlement with the Airports Authority of India (AAI) and has cleared all outstanding principal dues of the airport operator.