Why did SpiceJet shares jump by 8% today? Check the reason

Synopsis: SpiceJet shares surged 8% after Authum invoked pledged shares and acquired a 6.8% stake, later partially monetising it. The move signals a lender-led recovery action rather than strategic entry. Despite rising passenger market share to 4.3%, the airline continues to report losses amid improving operational momentum.

The stock of SpiceJet started gaining momentum after Authum Investment invoked pledged shares and acquired a 6.8% stake in the airline. This deal, which was carried out without any fresh cash consideration, is an example of a recovery-driven enforcement action. Although the financials are still under pressure, improvement in passenger market share and revenue growth indicates a stabilizing trend.

With a market cap of Rs 2,550 crore, the shares of SpiceJet Ltd gained 8% in today’s trading session and reached a high of Rs 17.15. When compared to its previous day’s closing price of Rs 15.90. 

From Lender to Shareholder: Authum’s Stake Move in SpiceJet

Authum Investment & Infrastructure Limited has acquired 10.37 crore equity shares of SpiceJet, which is roughly 6.8% of the airline’s paid-up capital, as a result of the invocation of pledged shares. The shares were initially pledged by Mr Ajay Singh to secure the outstanding amount of Spice Healthcare Private Limited. It is pertinent to note that no additional cash consideration was required for this acquisition.

Authum has already sold 6 crore equity shares out of the total acquired shares. Additionally, 4.37 crore equity shares (approximately 2.86%) are still held in the demat account of Authum as a continuing security. This suggests that this transaction is more of a recovery process than a strategic investment in the airline business.

SpiceJet, which is involved in the aviation industry, has shown a turnover of Rs 5,326 crore in FY25, indicating a decline in revenue compared to the last two years. The declining revenue trend is indicative of the financial distress faced by the airline, and thus, the invocation of the pledge is a critical event in the context of credit risk and financial arrangements at the promoter level.

On the whole, this deal does not mark the entry of Authum into the aviation sector but rather shows the enforcement of the rights of the lenders. This deal highlights the company’s stance on protecting its exposure while at the same time partially realising the value of the pledged shares to recover the dues.

Financials

The revenue from operations for the company stood at Rs 1,408 crores in Q3 FY26 compared to Q3 FY25 revenue of Rs 1,237 crores, up by about 14 per cent YoY. However, the net loss stood at Rs 262 crore in Q3 FY26, down compared to the Rs 20 crore profit in Q3 FY25.

The passenger market share of the company has almost doubled from 2.2% in Q2 FY26 to 4.3% in December, which is a result of the sharp three-month growth. The consistent month-by-month increase from 2.6% in October to 3.7% in November and then to 4.3% in December reveals effective implementation of route expansion and aircraft deployment strategies. 

The improvement in operational effectiveness and competitive positioning in the aviation sector may lead to enhanced load factors, revenue visibility, and brand presence if the current trend continues.

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