India's SpiceJet hits near 4-mth high as MD infuses 5 bln rupees

Spicejet

13/07/2023 05:26

** Shares of budget carrier SpiceJet Ltd  SPJT.BO  climb as
much as 7.5% to 33.50 rupees, highest since March 23
    ** Airline says its biggest shareholder and managing
director Ajay Singh will infuse 5 bln rupees ($61 mln) in co
 urn:newsml:reuters.com:*:nL4N38Y37P
    ** Airline to issue shares, convertible securities or share
warrants on a preferential basis to Singh
    ** Deal will open up further credit facilities of 2.06 bln
rupees to SPJT under govt's emergency credit line guarantee
scheme
    ** About 3.1 mln shares change hands by 9:46 a.m. IST, 1.6x
the 30-day avg - Refinitiv Data
    ** Stock down ~20% YTD as of last close



($1 = 81.9650 Indian rupees)

 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com))