SpiceJet stock rises 10 per cent on fund raising, NSE listing plans

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.

In a regulatory filing on Monday, SpiceJet said that 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 the issue of equity shares and/or convertible securities on a preferential basis.