SPICE JET STOCK IN NEWS: Indian budget airline SpiceJet on Tuesday, February 21,  said that the Airline will consider issuing equity shares on a preferential basis in a board meeting this week on Friday, February 24, 2023 & to consider upon conversion of outstanding liabilities. The Airline will also mull raising fresh capital via the issue of securities to qualified institutional buyers.

The domestic airline informed in stock exchange filing today: “This is to inform you that the Board of Directors of the Company in its meeting scheduled to be held on February 24, 2023 (Friday), will discuss and consider, inter-alia, issuance of equity shares on a preferential basis consequent upon conversion of outstanding liabilities into equity shares of the Company, subject to applicable regulatory approvals," the domestic airline informed in an exchange filing today.

Subject to necessary regulatory permissions, SpiceJet noted, the Board of Directors would also review and take into account options for raising further funds through the issuance of qualifying securities to qualified institutional buyers.

Reacting to the developments, Shares of  SpiceJet Ltd. were down by 1.56%  to Rs. 37.75 on the National Stock Exchange (NSE) AT 11:00 hours.  At the same time, the NSE Nifty touched at 17,898.75, up by 0.30%  from its previous closing.

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