SpiceJet flies higher on plan to raise money from its promoters by allocating new warrants

10 Jan 2014

Spicejet is currently trading at Rs. 19.20, up by 0.20 points or 1.05% from its previous closing of Rs. 19.00 on the BSE.

The scrip opened at Rs. 19.20 and has touched a high and low of Rs. 19.40 and Rs. 18.80 respectively. So far 1191738 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 48.85 on 01-Feb-2013 and a 52 week low of Rs. 15.50 on 26-Nov-2013.

Last one week high and low of the scrip stood at Rs. 20.90 and Rs. 18.65 respectively. The current market cap of the company is Rs. 1022.39 crore.

The promoters holding in the company stood at 52.14% while Institutions and Non-Institutions held 7.59% and 40.27% respectively.

Indian budget airline SpiceJet is all set to raise money from its promoters by allocating new warrants. This is the fifth time since 2011 that the promoters are infusing money in the airline. In this regard, Kalanithi Maran-owned airline received its board’s approval on January 9, 2014 to raise upto 64,169,000 warrants having option to apply for and be allotted equivalent number of equity shares of the face value of Rs 10 each to the promoters of the company, on preferential basis on a price to be determined as per SEBI ICDR Regulations.

Earlier in December, Spicejet has allotted 1.5 crore equity shares consequent upon conversion of an equal number of warrants to its promoter Kalanithi Maran.

SpiceJet is India’s most preferred airline delivers the lowest air fares with the highest consumer value. The airline currently operates more than 350 daily flights to over 44 Indian cities and 9 international destinations.

 

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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