On a net basis, Societe Generale was a net seller of 74.15 lakh shares. The selling price of shares was Rs 62.90 apiece while the buying price was Rs 62.43.
The stock witnessed another block deal where Vikasa India EIF I Fund offloaded 1 crore shares at a total price of Rs 63.13.
SpiceJet stock today fell by Rs 3.66 or 5.54% on the BSE and ended at Rs 62.38.
The low-cost airline has completed its Rs 3,000 crore Qualified Institutional Placement (QIP) which attracted global investors like Goldman Sachs and Morgan Stanley.
SpiceJet chairman and managing director Ajay Singh said they aim is to have 100 aircraft by the end of 2026.
“SpiceJet is an airline that has strong fundamentals but was hamstrung by two black swan events one after the other – the worldwide grounding of Boeing 737 Max, followed by Covid pandemic,” Singh told ET in an interview.
In addition to the Rs 3,000 crore raised through its QIP, SpiceJet will also receive an additional Rs 736 crore from the previous funding round, further boosting its financial stability and growth plans.
With this capital infusion, the airline is poised to strengthen its operations, enhance its fleet, and further extend its network to meet growing passenger demand. SpiceJet plans to quickly return to service its 36 aircraft grounded due to lack of spares.
By March 2025, the airline will have a fleet of 40, or equivalent to what Akasa Air will have, and then add another 40 in the next year. Additionally, during periods of strong demand, the airline will take planes on short-term wet leases, Singh had told ET.
Singh said he met Boeing’s new chief executive, Kelly Ortberg, who has assured that supply of aircraft will begin soon. “Boeing wants a stronger SpiceJet as we have been a long-term customer for them,” he said.
Experts have cautioned of SpiceJet’s deteriorating credit worthiness among banks and aircraft lessors due to multiple defaults, impacting its plan for expansion. But Singh said he has managed amicable resolutions with both aircraft manufacturers and lessors, and that Rs 750 crore from the current funding will be used to settle the remaining dues.
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