
SpiceJet shares hit 20% upper circuit on fundraising plans
The company announced its plans to raise fresh funds through the issue of equity shares and/or convertible shares.
The company announced its plans to raise fresh funds through the issue of equity shares and/or convertible shares.
The Gurugram-based airline will reportedly issue 3.4 crore equity shares of the face value of ₹10 apiece and 13.5 crore warrants to Spice Healthcare.
Under the revitalisation programme, FTAI will provide SpiceJet with up to 20 engines for lease, inclusive of maintenance services.
Aviation stocks witnessed a strong rally on Wednesday amid hope that the grounding of Go First Airlines would boost profits for the rest.
Shares of airline companies IndiGo and SpiceJet fell up to 3% in the opening after jet fuel prices were hiked by 3.3% to all-time high levels on Tuesday.