India's budget airline SpiceJet is considering listing its shares on the National Stock Exchange (NSE). Shares of SpiceJet are already listed on the Bombay Stock Exchange and are traded actively.
According to a report by Press Trust of India, the proposal to list shares on the NSE gained momentum after the airline started preparatory work regarding various compliance requirements with the NSE listing.
"We are looking at listing our shares on the NSE. Getting listed on the exchange will help our securities have a wider reach and also help in enhancing the credibility," Ajay Singh, chairman and managing director of SpiceJet, was quoted as saying by the agency.
SpiceJet has been profitable for the last five quarters.
Last week, SpiceJet shares nosedived almost seven percent despite the company announcing record net profit for the March 2016 quarter the previous day. The budget carrier's bottom-line had zoomed to Rs. 73 crore from Rs. 22 crore for the corresponding quarter in the previous fiscal.
SpiceJet, which was on the verge of a collapse in 2014, said profits in the fourth quarter would have been higher given a one-time expense of Rs. 173 crore incurred towards stabilising and improving the reliability of its fleet.
"By taking the one-time expense, we have now accounted for all legacy issues and are ready to start on a clean slate with even greater confidence," Ajay Singh said in a regulatory filing to the BSE.