Cash-strapped SpiceJet will raise more than Rs 2,250 crore through the issue of up to 130 million convertible warrants and 320.8 million fresh equity shares at an issue price of Rs 50 each.
SpiceJet will issue convertible warrants to 64 allottees, including Prabhudas Lilladher Advisory Services, LKP Finance, Martina Developers, and Fincon. The issue price of Rs 50 is 18.4 per cent lower than the SpiceJet stock price of Rs 61.3 when markets closed on December 11.
In the quarter ended September, the airline shrank its net loss to Rs 431.54 crore from Rs 837.8 crore a year ago.
