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1-min read

SpiceJet Promoter Ajay Singh Pledges 2.78 Percent Shares

These shares, which account for 2.78 per cent shareholding, have been pledged to 'secure a credit facility obtained by SpiceJet'.

PTI

Updated:November 2, 2019, 11:29 PM IST
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SpiceJet Promoter Ajay Singh Pledges 2.78 Percent Shares
(Image for representation: PTI)

New Delhi: SpiceJet promoter and chief Ajay Singh has pledged around 2.78 per cent shares towards securing a credit facility for the airline.

A total of 1.67 crore shares were pledged in favour of IDFC First Bank Ltd on October 24, according to a filing submitted by the carrier to the BSE on Saturday.

These shares, which account for 2.78 per cent shareholding, have been pledged to "secure a credit facility obtained by SpiceJet", it added.

With the latest pledge of shares, a total of 26.32 per cent shareholding of Singh is now encumbered.

Individually, he has a stake of 50.75 per cent in the company, as per the filing.

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