SpiceJet Raises Additional Rs 316 Crore; Total Investments Reach Rs 1,060 Crore – News18

SpiceJet on Thursday said it has raised an additional Rs 316 crore, bringing the total investments raised to Rs 1,060 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,” SpiceJet said in a statement.

It added the committee also 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.

Ajay Singh, chairman and managing director of SpiceJet, said, “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 we have received from investors has been incredibly encouraging. It has broadened our perspective on the potential opportunities ahead.