Friday , September 24 2021

SpiceJet flies high on transferring logistics business to SpiceXpress

SpiceJet is currently trading at Rs. 69.75, up by 1.05 points or 1.53% from its previous closing of Rs. 68.70 on the BSE. The scrip opened at Rs. 68.20 and has touched a high and low of Rs. 71.80 and Rs. 68.20 respectively. So far 780439 shares were traded on the counter. The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 107.95 on 14-Dec-2020 and a 52 week low of Rs. 45.60 on 25-Sep-2020. Last one week high and low of the scrip stood at Rs. 73.35 and Rs. 63.55 respectively. The current market cap of the company is Rs. 4185.66 crore. The promoters holding in the company stood at 59.54%, while Institutions and Non-Institutions held 3.24% and 37.22% respectively. SpiceJet is all set to transferring of its cargo and logistics services on a slump sale basis along with all related assets and liabilities, including, knowhow, trademark, licenses, franchises, customer contracts, distribution network etc. to its subsidiary SpiceXpress and Logistics (SpiceXpress) subject to the approval of shareholders and also such other approvals as may be required. While SpiceXpress will operate as a separate entity, SpiceJet will continue to provide certain transportation services, ground and logistics support, management services, sharing and provisioning of resources etc. to SpiceXpress. SpiceJet is India’s favourite airline that has made flying affordable for more Indians than ever before.

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