SpiceJet Reportedly in Talks with Middle Eastern Carrier for 24% Stake Sale: Reports

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Last Updated: August 03, 2022, 09:40 IST

SpiceJet may sell 24 per cent stake to a middle eastern company, know more

SpiceJet promoter Ajay Singh currently owns 60 per cent stake at the budget carrier, with an Indian business conglomerate approaching him as well

Budget carrier SpiceJet is said to be inactive  talks with a middle eastern aviation company for a possible sale of stake, multiple reports said on Wednesday, August 3. The big middle eastern company has expressed its interest to buy 24 per cent stake at SpiceJet and get a seat at the board of the company, the report said.

As per reports by ET Now and CNBC TV18, SpiceJet is also in talks with a large Indian conglomerate, which has approached the carrier’s promoter Ajay Singh for a stake sale. Singh currently holds 60 per cent stake at SpiceJet.

“The company continues to be in discussions with various investors to secure sustainable financing,” a SpiceJet spokesperson was quoted as saying by CNBC TV18. The spokesperson further added that the company will make “appropriate disclosures in accordance with applicable regulations”.

(Details to be added soon)

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