SpiceJet Board to Discuss Funding Plans on Tuesday

New Delhi, Dec 11 (PTI) Crisis-hit SpiceJet's board of directors will continue to discuss fundraising plans on Tuesday after it could only partially complete the agenda items on Monday.

On Monday, the no-frills airline's shares touched a 52-week high and ended with more than 10 per cent gains on the BSE as investors were enthused by funding plans and the proposal to list the company's securities on the National Stock Exchange (NSE).

In an evening filing to the BSE, SpiceJet said its board on Monday "could only partially complete the agenda items and the meeting has now been adjourned to December 12, 2023 (Tuesday)".

Apart from options for raising fresh capital through the issue of equity shares and/or convertible securities on a preferential basis, the board will also consider the September quarter results, as per the filing.

Earlier in the day, shares of SpiceJet touched its 52-week high and closed with a gain of 10.19 per cent at Rs 60.57 apiece on the BSE.

The airline has been grappling with multiple headwinds, including issues with aircraft lessors and financial woes.

In October, SpiceJet had a domestic market share of 5 per cent and carried 6.28 lakh passengers.