Is Rakesh Gangwal buying stake in SpiceJet? Here's what we know so far
SpiceJet and Gangwal, investors and market observers are left confused with the emergence of conflicting news reports. Here's what we know so far: - Gangwal was said to be in talks with SpiceJet for picking up a “sizeable stake" in the financially-stressed carrier, ET Now reported on October 13, citing sources who they claimed to be privy to the development.
- The two sides were in advanced talks for the stake sale, the report added, suggesting that the negotiations were underway. - The report boosted SpiceJet's stock, with the shares jumping by 20 percent during the day's trading session, and closed at ₹43.60 on the BSE.
This was 19.39 percent higher than the previous day's close. "Exciting news! Mint is now on WhatsApp Channels
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