Spicejet has raised a complete funding of Rs 1,060 crore.
This important capital infusion reaffirms investor confidence in SpiceJet’s progress prospects and strengthens our monetary place for the longer term, says SpiceJet CMD Ajay Singh
SpiceJet on Thursday mentioned it has raised a further Rs 316 crore, bringing the whole investments raised to Rs 1,060 crore beneath its preferential problem. The mixed sum displays sturdy investor confidence in SpiceJet’s future and unlocks thrilling alternatives for the corporate.
“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,” SpiceJet mentioned in an announcement.
It added the committee additionally sanctioned the allotment of two.31 crore warrants, providing the choice to use for and be allotted an equal variety of fairness shares, to 4 traders, together with Elara India Opportunities Fund Ltd.
Ajay Singh, chairman and managing director of SpiceJet, mentioned, “The company has raised a total investment of Rs 1,060 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.”
He added that the overwhelming response that now we have obtained from traders has been extremely encouraging. It has broadened our perspective on the potential alternatives forward.
