SpiceJet shares surge over 3 pct amid Qatar Airways stake sale reports

PTI Posted online: Saturday, Oct 19, 2013 at 0000 hrs
Mumbai : Shares of SpiceJet today rose by over 3 per cent on BSE amid media reports that the airline is in stake sale talks with a foreign carrier.

After surging 7.26 per cent to Rs 22.15 in intra-day, the budget carrier's scrip ended the day at Rs 21.35, up 3.39 per cent from its previous close on the BSE.

On volumes front, 82.25 lakh shares of the company changed hands on BSE.

"Qatar Airways is in talks with SpiceJet for a possible acquisition of 24 per cent stake in the Indian low-cost airline," media reported.

Meanwhile in a clarification to the BSE, SpiceJet today said: "We wish to reiterate that a few investors have evinced interest in the company post Government of India allowing FDI in civil aviation sector to foreign airlines, it will be improper and pre-mature to comment on the possibilities of any fresh equity issuance to such interested parties or confirm/ deny names of any specific entity."

The airline further added that it is misconceived to say that the company is in talks with Qatar Airways for possible stake sale. These are speculative media reporting, it noted.