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SpiceJet set to raise ₹2,250 cr, cuts loss to ₹449 cr in Sep qtr
Mint Mumbai
|December 13, 2023
Preferential issue of shares, warrants comes as lifeline after promoter Singh's promised ₹500 cr
- 64 Entities to which SpiceJet will allot shares, warrants
- ₹50 The issue price for each share and warrant
The board of SpiceJet Ltd on Tuesday decided to raise over ₹2,250 crore through a preferential issue of shares and warrants, in a fresh lifeline for the low-cost airline battling multiple creditors and lessors.
The board decided to allot shares and warrants to 64 entities, including financial institutions, foreign institutional investors and private investors, the company said in a statement.
"This is a significant fundraise and it is designed to strengthen SpiceJet’s financial position, enhance operational capabilities, settle outstanding issues and position the airline again for sustained growth in the dynamic aviation sector," Ajay Singh, chairman and managing director, said in the statement.
The company has tapped investors, including Aries Opportunities Fund, Elara India Opportunities Fund, Resonance Opportunities Fund, Prabhudas Lilladher, Nexus Global Fund and Mahapatra Universal Ltd.
Dit verhaal komt uit de December 13, 2023-editie van Mint Mumbai.
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