SpiceJet shares surge 10% on hopes of capital infusion

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Mumbai, Jan 9: Shares of SpiceJet soared almost 10 per cent today on hopes that the company may get the first round of its much-needed fund infusion by January 10.

SpiceJet's scrip zoomed 9.91 per cent to Rs 18.30 -- its highest trading permissible limit for the day on the BSE. On the volume front, 35.98 lakh shares of the company changed hands at the BSE.

SpiceJet

Crisis-hit SpiceJet may get the first round of its much-needed fund infusion in the next two days, while more may come in a month's time as part of an estimated USD 200 million investment plan, sources said yesterday.

As per a capital infusion plan received by the Civil Aviation Ministry, the initial funds from an overall corpus of about USD 200 million may come in by January 10, sources had said.

"In about a month, more funds would come in," they added. The airline, which is now operating about 200 flights a day, is also believed to have renewed its bank guarantee to Airports Authority of India (AAI).

PTI

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