SpiceJet
will be raising additional funds through the issue of convertible debentures
and / or warrants convertible up to a maximum of 52.177 million equity shares
to the promoter of the company on a preferential basis.
The
price will be determined as per SEBI ICDR (issue of capital and disclosure
requirements) guidelines.
The
news came after the close of trading hours on Wednesday.
During
the day, shares of SpiceJet gained more than 7 per cent to close at Rs. 37.40
on the BSE.
Earlier
Sun Group, on Wednesday, said its aviation venture SpiceJet needed capital for
expansion and would explore options, including equity contribution from
existing shareholders and raising debt, but promoters have no plans to sell
their shares. The promoters currently hold 48.59 per cent in the equity capital
of SpiceJet.
PTI
reports:
The
market capitalisation of the company has improved from Rs.1,660 crore on
Tuesday to Rs.1,811 crore on Wednesday fuelled by the rally in the stock.
Sun
Group Chief Kalanithi Maran and his wife Kavery Maran have resigned from one of
the promoter entities of SpiceJet, triggering speculations about a possible
sale of Maran family’s majority stake in the air carrier.
No
stake sale
The
group has, however, denied any plans for promoters’ stake sale in SpiceJet,
saying it could consider various other options to raise capital to finance
fleet expansion plans.
“We
certainly need funds for fleet expansion and whenever there is an attractive
opportunity (for partial stake sale), we will definitely look at it, but there
is nothing on cards as of now,” Sun Group CFO S. L. Narayanan told PTI over
phone.
Meanwhile,
stocks of other airlines also witnessed good momentum ahead of the winter
session of Parliament, which starts from Thursday.
Jet
Airways on Wednesday ended the day at Rs.451.50 apiece, higher by 9.20 per
cent.
The
stock had hit a 52-week high during the day.
No comments:
Post a Comment