Team Blitz India
NEW DELHI: In order to improve the airline’s financial strength and accelerate its growth trajectory, the board of SpiceJet approved the raising of fresh capital of over Rs 2,250 crore. This will be done through the issuance of equity shares to financial institutions, FIIs, HNIs and private investors.
After a board meeting, the company announced that it will issue equity shares/equity warrants under private placement basis, subject to shareholder and regulatory approvals as may be required.
The proposed preferential issue will have investors like Elara India Opportunities Fund, Aries Opportunities Fund, Mahapatra Universal Limited, Nexus Global Fund, Prabhudas Lilladher and Resonance Opportunities Fund.
“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,” said Ajay Singh, Chairman and Managing Director, SpiceJet.