Investors unlikely to infuse funds in SpiceJet
Financial trouble for low-cost carrier SpiceJet seems to be rising. Investors who had committed to infuse funds worth Rs 2,250 crore on a preferential basis, are having second thoughts due to acute liquidity crunch the company is facing, which may make its operations unviable.
In December, the company’s board had approved fund raising proposal of Rs 2,250 crore through issuance of securities on a preferential basis. On January 26, the carrier received Rs 744 crore as first tranche. Sources said that it is unlikely that further fund infusion will happen by the investors.
