Spicejet Sale

On January 10, 2025, its shares fell by 5.01 per cent to an intraday low of Rs 50.5, marking a total decline of 7.13 per cent over three days

SpiceJet has raised Rs 3,000 crore through sale of shares to qualified institutional buyers, providing a much-needed tailwind for the struggling airline. Foreign entities, including Societe Generale - ODI, Goldman Sachs (Singapore) Pte - ODI, Nomura Singapore Ltd ODI and Discovery Global Opportunity (Mauritius) Ltd are among the investors who have been allotted shares under the airline's Qualified Institutional Placement (QIP) that was oversubscribed. The airline's fundraising committee, on September 20, approved the allotment of more than 48.70 crore shares at a price of Rs 61.60 apiece to the more than 80 QIP participants, according to a regulatory filing. The total amount for which the securities have been issued is nearly Rs 3,000 crore. "Pursuant to the allotment of equity shares in the Issue, the paid-up equity share capital of the company stands increased from Rs 7,94,67,27,170 consisting of 79,46,72,717 equity shares to Rs 12,81,68,57,030 consisting of 1,28,16,85,703 equity

The budget airline owes payments to airports, has placed staff on leave without pay and withheld mandatory social security payments since January 2022

SpiceJet's Rs 3,000 crore qualified institutional placement has been oversubscribed

With more than Rs 900 crore funding coming in this month, SpiceJet will focus on upgradation of its fleet and cost-cutting measures, as the no-frills airline works on ways to come out of turbulent times. In an internal note to the senior staff on Monday, the airline said it now has a substantial bank balance of more than Rs 900 crore, including Rs 160 crore received as an instalment under the government's Emergency Credit Line Guarantee Scheme (ECLGS). The carrier, which had been facing multiple headwinds in recent months, has so far received around Rs 1,000 crore under the ECLGS. The latest instalment came recently after its Chairman and Managing Director Ajay Singh infused funds into the airline, according to an official in the know. Singh, who has been helming the no-frills carrier, has so far put in Rs 200 crore out of the Rs 500 crore fund infusion that he had announced last year. The official said the airline has garnered a total of more than Rs 1,100 crore funds in three ..

Ram mandir consecration: SpiceJet said the booking is available on select flights for limited seats from January 22-28, 2024

Singh had sought to set aside a portion of the award, which directed the airline to refund Rs 270 crore to Kal Airways and Maran

IndiGo shares were up 0.9% in afternoon trading on Friday

Shares of SpiceJet bounced back on Wednesday, rising more than 2 per cent amid value-buying at lower levels in tandem with a positive trend in the equity market

This is the third time that the regulator has imposed a financial penalty on operators for violation of rules after being empowered to do so

Under this sale, the travel period covered is till September 25, 2019 and the offer is available on 'first-come first-served basis' only, the airline said

International flights start as low as Rs 2,469