SpiceJet to receive fresh capital infusion of Rs 294 cr from Promoter Group

SpiceJet today announced that its Founder and Promoter, Ajay Singh, through M/s Spice Healthcare (a Promoter Group Company), will infuse Rs 294.09 crore into the company through the conversion of 13,14,08,514 warrants into an equivalent number of equity shares (13.14 crore equity shares). This strategic move will increase the consolidated shareholding of the Promoter Group in SpiceJet from the current 29.11% to 33.47%.

Further, Ajay Singh, Promoter of the Company, is disposing upto 3.15 crore equity shares of the Company and utilize the proceeds to enable Spice Healthcare to partially fund the balance of 75% of the amount at the time of allotment of the equity shares pursuant to exercise of option to convert said warrants.

 

The infusion underscores the Promoter Groupfs continued confidence in SpiceJetfs long]term growth potential and strategic direction.

A meeting of the Board/Board Committee of the Company will be held shortly, on or before 18 March 2025, to approve the allotment of equity shares pursuant to the exercise of the warrant conversion option.

Ajay Singh, Chairman and Managing Director, SpiceJet, said, gThis fresh infusion reaffirms our unwavering commitment to the airline and its bright future. This investment will further strengthen our financial position and drive growth. SpiceJet has always been a resilient airline and with this fresh capital, we are well positioned to enhance our operations and seize new opportunities.h

Powered by Capital Market - Live News