SpiceJet Shares Surge 10% in 2 Days – Key Drivers Behind the Rally

On the BSE, SpiceJet stocks peaked at Rs 46.75, representing a 2.9 percent increase, while the company’s stock rose nearly 10 percent over two sessions. 

This bullish activity follows Singh’s sale of 20 million shares for Rs 45 per share, a move that piqued interest from Plutus LLC who purchased 7.5 million shares at the same price. 

The stock was trading at Rs 46.51 around 10:12 AM, marking a 2.42 percent increase on the day. This outperformed the BSE Sensex which was still up 1.04 percent at 74,939.10. The company’s market cap currently is Rs 5,961.12 crore, with a range between 79.9 and 39.91 per share at their 52-week high and low respectively. Singh had also declared an Rs 294.09 crore investment through Spice Healthcare on March 17, 2025.

The 13,14,08,514 warrants were due to be converted into an equivalent number of equity shares (131.4 million equity shares). This move was important to increase the promoter group’s consolidated shareholding of SpiceJet from 29.11 percent to 33.47 percent. 

Moreover, Singh was to sell up to 31.5 million equity shares of the company and cover the net proceeds to allow Spice Healthcare Private Limited to partially pay the remaining 75% of the total payment due at the time of equity shares allotment. On March 17, 2025, Singh said he would transfer Rs 294.09 crore from Spice Healthcare Private Limited into the company.

According to the statement, "The infusion reinforces confidence from the Promoter Group in SpiceJet’s further growth prospects and strategic direction." Meanwhile, shortly from now, on or before March 18, 2025, the board of the company is expected to meet in order to decide on the allocation of equity shares following the use of the warrants conversion option. During the past year SpiceJet’s share price has declined by 23% while the Sensex has increased by around 2%.