Low-cost carrier SpiceJet today said more than 97.46 lakh shares pledged by one of its promoter, Kal Airways, have been released.

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

In a disclosure to the BSE, Spicejet said that over 97.46 lakh equity shares of the company, pledged by Kal Airways have been released.

SpiceJet operates over 300 daily flights.

SpiceJet last month reported a net profit of Rs 102 crore for the third quarter ended December, 2012.

Shares of the company were trading at Rs 46.60, down 1.79 per cent from its previous close on the BSE in afternoon trade.