SpiceJet Stock Surges on Fund Raising, NSE Listing
Dec 11, 2023 18:17
SpiceJet shares jumped over 10% on Monday following plans to raise funds and list on the National Stock Exchange. The airline aims to reach a wider investor base and address financial challenges.
New Delhi, Dec 11 (PTI) Shares of SpiceJet jumped more than 10 per cent on Monday amid the plans of the no-frills airline to raise funds as well as list on the National Stock Exchange.
The stock rallied 10.19 per cent to close at Rs 60.57 per piece on the BSE. During the day, the scrip hit its 52-week high of Rs 63.69 apiece.
On the volume front, 6.58 crore equity shares of the company were traded on the BSE during the day.
At the end of the session, the 30-share BSE Sensex index climbed 102.93 points or 0.15 per cent higher to close at 69,928.53 points.
In a regulatory filing on Monday, SpiceJet said that in order to reach a wider investor base, "the company shall soon be listing its securities on National Stock Exchange of India Limited".
There are various requirements, including financial parameters, that need to be fulfilled by companies to get listed on the NSE.
SpiceJet, which has been grappling with multiple headwinds, including issues with aircraft lessors, is looking to raise funds.
The airline's board meeting on Monday will discuss and consider options for raising fresh capital through issue of equity shares and/or convertible securities on preferential basis.
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