SpiceJet flies high as promoters infuse Rs 128 crore in the company

13 Mar 2014

Spicejet is currently trading at Rs. 14.75, up by 0.14 points or 0.96% from its previous closing of Rs. 14.61 on the BSE.

The scrip opened at Rs. 14.79 and has touched a high and low of Rs. 15.09 and Rs. 14.67 respectively. So far 2422356 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 43.75 on 06-May-2013 and a 52 week low of Rs. 12.50 on 04-Mar-2014.

Last one week high and low of the scrip stood at Rs. 15.20 and Rs. 13.70 respectively. The current market cap of the company is Rs. 789.54 crore.

The promoters holding in the company stood at 53.48% while Institutions and Non-Institutions held 3.30% and 43.22% respectively.

Budget carrier SpiceJet’s promoters Kalanithi Maran and Kal Airways have infused Rs 128 crore into the company. In this regard, the company has allotted warrants to its promoters. This is the fifth time since 2011 that the promoters are infusing money in the airline.

The intension of the promoters is to capitalize the airline, which is in need of money after announcing a $4.4 billion deal with Boeing to buy 42 Boeing 737 planes.

The airline has allotted 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 at a premium of Rs 10.76 to promoters of the company on preferential basis.

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.

Related Spicejet Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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