SpiceJet says in talks with investors for fresh capital

SpiceJet is in “exploratory and preliminary stage” talks with investors about raising fresh capital, the budget airline said in a regulatory statement on Monday.

The airline said a few parties had approached it about making an investment but because the talks were at an early stage it would be improper to comment on the specifics of any possible stake sale. SpiceJet, which has lost money for five consecutive quarters, has been trying to raise new money for much of this year. The airline said in May it was in “advanced” talks for a capital infusion but no deal materialised. SpiceJet stock price On November 25, 2014, at 14:53 hrs SpiceJet was quoting at Rs 15.10, down Rs 0.58, or 3.7 percent. The 52-week high of the share was Rs 22.20 and the 52-week low was Rs 11.10. The latest book value of the company is Rs -16.49 per share. At current value, the price-to-book value of the company was -0.92.