SpiceJet Ltd to bid for Go First

SpiceJet Limited has announced in reference to ongoing corporate insolvency resolution process of Go Airlines (India) Limited ("Go First") under the Insolvency and Bankruptcy Code, 2016.

Please note that SpiceJet Limited (the "Company" or "SpiceJet") has expressed interest with the Resolution Professional of Go First and wish to submit an offer post diligence, with a view to creating a strong and viable airline in a possible combination with SpiceJet.

The Board of the Company has recently approved and initiated process of raising fresh capital of about US$ 270 million to strengthen its financial position and provide resources to invest in growth plans.

Shares of SPICEJET LTD was last trading in BSE at Rs. 64.21 as compared to the previous close of Rs. 53.58. The total number of shares traded during the day was 42789227 in over 125996 trades.

The stock hit an intraday high of Rs. 64.29 and intraday low of 53.59. The net turnover during the day was Rs. 2625210656.00.

Source : Equity Bulls

Keywords

SPICEJET INE285B01017 GoAirlinesIndia Insolvency Bid