India's SpiceJet surges ahead of results, fund raise

Spicejet

11/12/2023 04:18

** Shares of Indian budget airline SpiceJet  SPJT.BO  rise
as much as 7.3% to 59 rupees, highest since mid-April, 2022
    ** SPJT to announce second-quarter results, fund raise on
Monday, co said last week
    ** Shares rallied 26% over last two sessions after SPJT said
it would consider raising funds by issuing shares and/or
convertible securities on a preferential basis
    ** ET Now reported on Friday SPJT would raise 15 bln rupees
($179.90 mln) via issue of preference securities from two
investors
    ** SPJT did not respond to Reuters' request for comment on
the ET Now report on Friday 
    ** Separately on Monday, SPJT says it will soon list its
securities on National Stock Exchange of India to reach wider
investor base
    ** Stock up 47% YTD, vs 46% rise in shares larger rival
IndiGo  INGL.NS 

($1 = 83.3800 Indian rupees)

 (Reporting by Chris Thomas in Bengaluru)
 ((chris.thomas@thomsonreuters.com; +91-80-6749-8695; Reuters
Messaging: chris.thomas.thomsonreuters.com@reuters.net))