Shares of low-cost air carrier SpiceJet spurted by over 6 per cent in morning

RELATED ARTICLES NSE loses trillion-dollar market cap tag; BSE a whisker away Market to keep an eye on EU summit, FII flows Bourses move 57 stocks for restricted trade

trade on the BSE today after the company raised Rs 131 crore through the allotment of shares to promoter Kalanithi Maran on a preferential basis.

After a positive opening on the BSE, the stock jumped further by 6.17 per cent to a high of Rs 22.35.

In a filing to the BSE after market hours yesterday, the company said, "The allotment committee of the board allotted 3.59 crore equity shares of Rs 10 each at a premium of Rs 26.48 to Kalanithi Maran, the promoter of the company, on a preferential basis."

With this, Maran's stake in the airline will increase to 43 per cent. Maran, together with his firm Kal Airways, earlier held a 38.16 per cent stake in Spicejet.

Meanwhile, in highly volatile trade, the BSE benchmark Sensex was trading 82.61 points higher at 16,966.53 at 1236 hours today.