SpiceJet has sought shareholder approval to issue 5.91% stake in the low-cost airline to Carlyle Aviation Partners–the aircraft financing unit of global private equity giant Carlyle Group. The leasing firm which has the largest exposure among other lessors will convert its dues of over $28 million to equity. The lessors have valued the airline’s share at Rs 48 per equity share. This is higher than the current share price of the airline which is trading at Rs 29 at the stock exchange.
