India's SpiceJet closes 6% higher on report of raising $180 mln

Spicejet

08/12/2023 10:07

** Shares of SpiceJet Ltd  SPJT.BO  turn positive; close
6.1% higher at 54.97 rupees, highest April 26, 2022
        ** Troubled budget carrier to raise 15 billion rupees 
($179.90 million) via issue of preference securities on Monday
from two investors, ET NOW reports citing sources
    ** Stock was down ~1% before news; SPJT did not immediately
respond to request for comment
    ** Shares soared 20% on Thursday after broadcaster reported
co likely to raise 10-12 bln rupees
    ** Co to also announce Q2 results on Monday
    ** Around 44.8 mln shares change hands, 7.2x their 30-day
avg volume
    ** Including day's gains, stock up ~42% YTD


($1 = 83.3775 Indian rupees)

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))