Plutus Wealth Management Increases Stake in SpiceJet

Plutus Wealth Management has raised its holding in domestic carrier SpiceJet by purchasing additional shares worth Rs 50 crore through an open market transaction. The acquisition involved 75 lakh shares at an average price of Rs 66.70 each. This comes after the firm recently bought 85 lakh shares of SpiceJet.

On Tuesday, Plutus Wealth Management increased its stake in SpiceJet by purchasing additional shares valued at Rs 50 crore in an open market transaction.

According to data from the BSE, Plutus acquired 75 lakh shares, representing a 0.58 percent stake in the Gurugram-based airline, at an average price of Rs 66.70 per share. This raised the transaction value to Rs 50.02 crore.

The identities of the sellers were not disclosed on the BSE. SpiceJet shares saw a 6.95 percent increase, closing at Rs 68.13 each.

Just a day prior, Plutus Wealth Management had bought 85 lakh shares of SpiceJet, amounting to a 0.66 percent stake for Rs 51 crore.

(With inputs from agencies.)