Spicejet shares rally over 5% on conversion plans of Carlyle’s debt to equity

SpiceJet shares rose 5.5% after announcing a plan to convert Carlyle Aviation Management's $137.68 million debt into equity, adjusted to $97.51 million upon settlement. Carlyle may also purchase a stake in SpiceXpress & Logistics. The airline aims to raise Rs 2,500 crore through a share sale to institutional investors.