SpiceJet stock up 6% on Rs 2,000 crore-fundraising plan

SpiceJet shares rallied up to 6.5 per cent to hit a day's high at Rs 48.50 after company Chairman & Managing Director Ajay Singh said the airline is looking to raise funds to the tune of Rs 2,000 crore.

SpiceJet board had recently passed a resolution to raise the funds for its sustainability and future expansion, reports said adding that the airline is exploring multiple options to raise funds.

The fundraising options include government lending schemes as well as equity sale, ET Now report said.


Earlier in the month, a media report claimed that the low-cost airline was in talks with a Middle Eastern carrier for a possible stake sale. In a clarification to the exchanges, SpiceJet had said that "the company continues to explore various means of raising funds to meet its business requirements, subject to compliance with prescribed procedures and receipt of applicable approvals."

SpiceJet is yet to declare its Q4 FY22 results, citing a ransomware attack on its IT systems which affected the completion of the audit process within the stipulated time.

In the last month, SpiceJet shares have rallied over 21 per cent but are down around 30 per cent in the last one-year period.