The Hindu Business Line : SpiceJet gets shareholders' nod for $80 m from investors

The low-cost airline SpiceJet on Thursday obtained approval from its shareholders for receiving $80 million from domestic and international investors, including the $17 million from the Tatas.

Apart from the Tatas, other investors include the Dubai-based Istithmar ($25 million), Goldman Sachs ($5 million) and BNP Paribas ($15 million).

Airline officials said that the decision of private equity firm, Texas Pacific Group, which earlier was planning to invest $30 million to withdraw its offer, will not affect the company's future plans.

"We have met our fund requirements. The funds garnered will be utilised to meet related capital expenditure other than those for acquiring aircraft and working capital needs up to December 2008. The funds will be utilised for airport development, IT-related services and setting up call centres," an airline official said.

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