SpiceJet raises additional INR 316 Crore

SpiceJet has raised an additional INR 316 Crore, bringing the total investments raised to INR 1060 crore under its preferential issue. The combined sum reflects strong investor confidence in SpiceJet's future and unlocks exciting opportunities for the company.

The Preferential Allotment Committee of SpiceJet's Board of Directors convened on February 21, 2024, 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.

Ajay Singh, Chairman and Managing Director of SpiceJet, said, "The Company has raised a total investment of INR 1060 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."

Shares of SPICEJET LTD was last trading in BSE at Rs. 65.58 as compared to the previous close of Rs. 68.18. The total number of shares traded during the day was 4355358 in over 14201 trades.

The stock hit an intraday high of Rs. 68.80 and intraday low of 64.85. The net turnover during the day was Rs. 291195262.00.

Source : Equity Bulls

Keywords

SPICEJET INE285B01017 FundRaising PreferentialIssue ElaraIndiaOpportunitiesFund