SpiceJet is slated to hold its annual general meeting (AGM) later today to consider the adoption of its audited financial statements along with the issue and allotment of equity shares on a preferential basis.
Rakesh Gangwal has no intention of investing in SpiceJet, said a banker close to him. Gangwal was responding to media reports that said he plans to buy a stake in the low-fare carrier. “He still owns 25% in IndiGo. It doesnt make the remotest sense for him to invest in SpiceJet,” said the banker.
This comment comes after news reports stated that promoter Ajay Singh is in talks for a stake sale, including with a Middle Eastern airline. Singh holds a 60 per cent stake in the airline.