SpiceJet soars 6% as board okays debt restructuring plan worth Rs 2,555 cr

Shares of SpiceJet soared 6.3 per cent to a high of Rs 42.20 in Monday’s intra-day trade on the BSE after the low-budget airline’s board approved issuance of equity shares worth $29.5 million to Carlyle Aviation Partner, as part of the proposed restructuring plan.

At 1 PM, the stock was up 3 per cent at Rs 40.90 on heavy volumes of around 18.36 lakh shares as against the two-week average traded volume of around 7.80 lakh shares on the BSE. Meanwhile, the S&P BSE Sensex was down 0.6 per cent at 59,109.

According to a release issued by the company to the BSE, SpiceJet will issue equity shares on a preferential basis to aircraft lessors such as Carlyle at minimum Rs 48 per share.