Spicejet, witnessed a rise in share price on Friday after it announced that the company has been informed by Ajay Singh (acquirer) that the Competition Commission of India (CCI) has approved the proposed combination and acquisition of entire shareholding of Kalanithi Maran and Kal Airways Private aggregating to 350,428,758 equity shares (58.46%) by Ajay Singh, in terms of the Competition Act, 2002.

Shares of the company are trading at Rs 22.75, up Rs 2.8, or 14.04% at the Bombay Stock Exchange (BSE) on Friday at 9:58 a.m.

The scrip has touched an intra-day high of Rs 23.50 and low of Rs 22.50. The total volume of shares traded at the BSE is 6,362,142.