Low-cost carrier SpiceJet today said that more than 18.52 lakh shares pledged by one of its promoters Kal Airways have been released.

In a disclosure to the BSE, Spicejet said that over 18.52 lakh equity shares of the company, pledged by Kal Airways have been released.

Kal Airways held 15.65 crore or 32.32 per cent stake in SpiceJet as of September quarter.

SpiceJet operates over 300 daily flights. Shares of the company ended at Rs 45.55, down 1.62 per cent on the BSE.