Ajay Singh Sells 1% Stake in SpiceJet for ₹52 Crore
Written By: Mobin
SpiceJet promoter Ajay Singh sold 1.15 crore shares at ₹ 45.34 per share, which amounts to ₹ 52 crores, causing a loss to SpiceJet.
Sale
Talking about stake, Ajay Singh's total stake in SpiceJet is 22.9%, while the total stake of promoters is 29.13%.
Stake
The same effect was that after this sale, SpiceJet shares fell by 6.4%, which were already weak.
Effect
Talking about the decline, SpiceJet shares have fallen 20% so far this year and are 43% below their 52-week high.
Decline
The slowdown in the stock market and concerns over the company's performance are the main reasons for this decline, there can be many other reasons for this.
Reason
The fall in SpiceJet shares has worried investors, who are very concerned about the future of the company.
Market
Experts believe that this sale reflects investors' concerns about the financial health of the company.