Mumbai: SpiceJet Ltd on Monday said more than 9.7 million shares that had been pledged by one of its promoter, Kal Airways, have been released.
Kal Airways held 156.5 million shares, or a 32.32% stake, in SpiceJet as on 31 December.
SpiceJet, which operates more than 300 flights daily, in January reported a net profit of Rs.102 crore for the December quarter.
Shares of the company fell 3.37% to Rs.45.85 on BSE on Monday, while the Sensex ended nearly unchanged at 19,751.19 points.
