Spicejet To List On NSE Soon At Around ₹60 Share Price, Reaches 52-week High
SpiceJet, one of India’s well-known airlines, is making headlines with its shares showing a remarkable surge in the stock market. This Monday, on December 11th, SpiceJet shares saw a significant increase in their value. The shares jumped nearly 7% right at the start of the day.
This rise in the share price is mainly because SpiceJet announced its plans to list its securities on the National Stock Exchange (NSE). This means that very soon, you’ll be able to buy and sell SpiceJet shares on NSE, which is a major stock exchange in India.
This move by SpiceJet is aimed at reaching a wider base of investors. Currently, the company’s shares are already traded on the Bombay Stock Exchange (BSE), and now they are expanding to NSE.
The rise in share value is not just because of the NSE listing news. There’s also a crucial board meeting happening today where SpiceJet’s directors are discussing various ways to raise new funds for the company.
They are considering issuing new shares or convertible securities, which basically means they might offer new shares or other types of securities to investors to get more money for the company.
This news comes at a time when SpiceJet is reportedly in talks to raise up to $100 million. This fund is expected to help refinance some of the debts of the promoter, Ajay Singh, and potentially add fresh equity to the airline.
SpiceJet has been in the news quite often recently, especially regarding its financial struggles and the competition it faces in the aviation sector. Just a few months ago, the airline told a court that it was finding it hard to keep running. It also made a significant payment to Credit Suisse following a Supreme Court order related to a legal dispute over unpaid dues.
Today, the shares of SpiceJet reached a new 52-week high in early trade on BSE, going up over 8% to Rs 59.70 from the previous closing of Rs 54.97. This year, the company’s stock has given a return of 46% to its investors. This is a big deal compared to the benchmark Sensex, which rose 14% during the same period.
So, for investors and those interested in the aviation sector, these developments are quite significant. It shows a positive trend for SpiceJet in the stock market, and the potential NSE listing could open up more opportunities for the company and its investors.