Stock Report

Promoter Group to increase stake in SpiceJet Limited to 33.47%

Posted On : 2025-03-17 10:27:02( TIMEZONE : IST )

Spice Healthcare Private Limited, a Promoter Group Company, has exercised the option of converting 13,14,08,514 Warrants into an equivalent number of 13,14,08,514 Equity Shares of SpiceJet Limited ("Company") as per the terms and conditions of the allotment of said Warrants.

Further, Mr. Ajay Singh, Promoter of the Company, has informed the Company of his intention to dispose upto 3.15 Crore equity shares of the Company and utilize the proceeds to enable Spice Healthcare Private Limited 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.

Consequent upon completion of aforesaid transactions, the consolidated shareholding of the Promoters Group in the Company will increase from present 29.11% to 33.47%.

The infusion underscores the Promoter Group's continued confidence in SpiceJet's long‐term growth potential and strategic direction.

A meeting of the Board/Board Committee of the Company will be held shortly, on or before March 18, 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, "This 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."

The successful conversion of warrants and subsequent capital infusion marks another significant step in SpiceJet's ongoing turnaround strategy.

Shares of SPICEJET LTD was last trading in BSE at Rs. 45.48 as compared to the previous close of Rs. 48.58. The total number of shares traded during the day was 24487576 in over 17275 trades.

The stock hit an intraday high of Rs. 49.30 and intraday low of 45.16. The net turnover during the day was Rs. 1130426059.00.