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“This is to inform you that in order to reach a wider investor base, the company shall soon be listing its securities on the National Stock Exchange of India,” the company told exchanges on Monday.
The stock has already been in an uptrend amid the company’s plans to consider fundraising options.
On Wednesday, the airline operator had said in an exchange filing that the board will meet on December 11 to discuss and approve the raising of fresh capital through issue of equity shares and/or convertible securities on a preferential basis.
The price action has been supported by the volume action as the spurt in volume recorded by the BSE was 1.16 times.
Along with the fundraising, the board will also consider and approve the September quarter results of the debt-laden company.
SpiceJet’s fleet has been partially grounded and the airline has been looking at ways to raise capital. At least three aircraft lessors have filed insolvency pleas against the company.In July, SpiceJet promoter Ajay Singh infused Rs 500 crore by subscribing to equity shares.
Last month, ET NOW had reported quoting sources that InterGlobe Aviation co-founder Rakesh Gangwal was in advanced talks to acquire a sizeable stake in SpiceJet.
For the quarter ended June, the airline reported a consolidated revenue of Rs 2,004 crore compared to Rs 2,145 crore a quarter ago, and a profit of Rs 197 crore against a loss of Rs 6.2 crore a quarter ago.
Despite going through tough conditions, shares of the airline have given nearly 35% returns year-to-date.
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