Rakesh Jhunjhunwala's wife buys 25 lakh SpiceJet shares for Rs 9.73 crore

MUMBAI: SpiceJet, the third largest domestic carrier has a new investor on board. Big bull Rakesh Jhunjhunwala's wife Rekha Jhunjhunwala, bought 25 lakh shares of SpiceJet for 9.73 crore through a block deal for an average price of 38.94, a share on Friday.

Ever since Jet announced a deal with Etihad, Jet and SpiceJet stocks have seen a rerating.

The stake acquired by Jhunjhunwalas is miniscule, but reflects the changed sentiments for airline stocks. SpiceJet's promoter Kalanithi Maran also had increased his stake by nearly 6% due to allotment of equity shares following conversion of convertible debentures, recently.

Maran's stake has risen from 16.27% to 22.05%. The overall holding of the promoters in the airline also climbed to 52.14% from 48.59% at the end of March quarter.

The company has allotted 35,931,453 equity shares to Maran following conversion of 13 million Unsecured Compulsorily Convertible Debentures for an aggregate value of 130 crore.