Shares of SpiceJet rallied 15% and hit a fresh 52-week high of Rs 63.69 on 11 December after the company announced its plans to list its shares on the NSE (National Stock Exchange).

The cash-strapped airline has yet to disclose any fixed listing date in its exchange filing but said it will occur “soon.”

The company’s board of directors is set to meet on 11 December to consider and approve raising fresh capital through the issuance of equity or convertible securities on a preferential basis.

On 5 December, the NCLT (National Company Law Tribunal) dismissed a plea filed by aircraft lessor Willis Lease Finance for initiating insolvency proceedings against the airline over unpaid dues.

Moreover, three more aircraft lessors have also filed for four insolvency pleas against the company for the non-payment of dues. Furthermore, an insolvency plea has also been filed by a tech services provider.

The company has been facing major operational disruption issues across the nation, with delayed flight services recently in Patna, Pune, and New Delhi airports.

At 3:30 pm, the shares of SpiceJet closed 10.19% higher at Rs 60.57 on BSE.