Can SpiceJet's share price top Rs 100?

SpiceJet's lessor Carlyle Aviation thinks so. Early this month, the debt-ridden airline said the lessor is converting $30 million of owed dues (lease arrears) into equity in the airline at Rs 100 per share, a 72 per cent premium to its last closing price! Carlyle is also writing off another $40 million and turning about $20 million into convertible debentures for SpiceJet's subsidiary SpiceXpress. The entire exercise means a reduction of Rs 587 crore debt of the total pile of Rs 5,376 crore on the books. The ailing airline is putting up a fight. The recent fundraising of Rs 3,000 crore through a QIP is another testament to that. The money will be used to revive the grounded fleet and add capacity. The management is confident that the efforts will pay off and SpiceJet, saddled with a negative net worth of Rs 2,825 crore and losses of Rs 409 crore (as of FY24), wil