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SpiceJet’s Board approves allotment of 4.01 cr shares to two investors, raises additional Rs 316 cr

IANS | February 22, 2024 02:54 PM

NEW DELHI: SpiceJet on Thursday said that the Preferential Allotment Committee had approved the allotment of 4.01 crore equity shares on a preferential basis to two investors, including Aries Opportunities Fund Limited.

Additionally, the Committee sanctioned the allotment of 2.31 crore warrants, offering the option to apply for and be allotted an equivalent number of equity shares, to four investors, including Elara India Opportunities Fund Limited.

The airline spokesperson said that SpiceJet has also raised an additional Rs 316 crore, bringing the total investments raised to Rs 1, 060 crore under its preferential issue.

Ajay Singh, Chairman and Managing Director, SpiceJet, said, "The company has raised a total investment of Rs 1, 060 crore. This significant capital infusion reaffirms investor confidence in SpiceJet's growth prospects and strengthens our financial position for the future. With this additional funding, we are well-equipped to pursue our expansion plans and enhance our operational capabilities."

“The overwhelming response that we have received from investors has been incredibly encouraging. It has broadened our perspective on the potential opportunities ahead, ” said Singh.

In January, SpiceJet had allotted shares and warrants amounting to a total of Rs 744 crore in the first tranche of its preferential issue.

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