Shares of SpiceJet have risen almost 13% during the last one month after the company announced plans to raise Rs 2,250 crore through the preferential issue of shares and warrants.  However, after the shareholder’s approval, the company’s shares fell 6.3% from the 52-week high of Rs 69.20. During the intraday, the stock fell 0.5% to Rs 65.10.

The stock of SpiceJet rose above 119% in the past six months and has risen nearly 74% in the last one year.

On December 12, the company said in an exchange filing that it would raise fresh capital through the issue of equity shares and convertible securities on a preferential basis. Further, the company said “A part of the above proceeds will be used in maintenance of its grounded fleet for getting these aircrafts return to service which will lead to additional revenue” as they continue to weigh on its revenue.

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