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SpiceJet on Thursday said it raised an additional ₹316 crore, bringing its total investments to ₹1,060 crore under a preferential issue.
Per the regulatory filing, the company’s preferential allotment committee has approved the allotment of 4.01 crore shares on a preferential basis to two investors, including Aries Opportunities Fund Ltd at ₹50 a share.
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 Ltd, at an issue price of ₹50.
- Also read: SpiceJet lay-offs spur course correction
Ajay Singh, Chairman and Managing Director of SpiceJet, commented, “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,” Singh added.
At close, SpiceJet stock gained 2.13 per cent to ₹66.98 on the BSE. During the day, the stock hit a high of ₹70.60 and a low of ₹66.39.
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