MUMBAI: Shares of private carrier SpiceJet on Monday dropped about 15 per cent after its Executive Chairman and CEO Siddhanta Sharma announced his resignation.
The scrip touched an intra-day low of Rs 27.60, registering a 14.81 per cent fall, over Friday's close of Rs 32.40.
At the end of the day's trade, the scrip settled at Rs 27.95, a 13.73 per cent decline, after touching the day's high of Rs 33.25.
The board of the company has accepted the resignation of Sharma, who would leave SpiceJet for personal reasons effective July 31, the low cost airline said in a statement on Sunday.
Recent reports suggest that the private carrier is in touch with various investors, including billionaire Wilburn Ross, for a possible stake sale.
Earlier, SpiceJet had announced plans to raise 100 million dollars through stake sale. The airline was also linked with Vijay Mallya-promoted Kingfisher Airline for a share swap merger.
thanks to : economictimes.indiatimes.com
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