SpiceJet share price up nearly 4% on fundraising plans

SpiceJet share price rose nearly 4 percent intraday on June 29 after the low-budget airline said it is going to consider fundraising.

The meeting of board of directors of the company scheduled on June 30, 2021, will discuss and consider, options for raising fresh capital through issue of equity shares/debt instrument on a preferential/qualified institutions placement basis, as per the release.

It is subject to approval of the shareholders of the company and receipt of applicable regulatory approvals, as may be required.

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The board will also consider and approve, the audited standalone and consolidated financial results of the company for the financial year ended March 31, 2021.

At 09:40 hrs, SpiceJet was quoting at Rs 81.70, up Rs 2.05, or 2.57 percent on the BSE.

The share touched a 52-week high of Rs 107.95 and a 52-week low of Rs 45.35 on 14 December, 2020 and 04 August, 2020, respectively.

Currently, it is trading 24.32 percent below its 52-week high and 80.15 percent above its 52-week low.