NEW DELHI: Mumbai-based business couple Harihara Mahapatra and Preeti Mahapatra will together acquire a 19% stake in SpiceJet for Rs 1,100 crore in the cash-starved airline. The funding by the Mahapatras comes soon after SpiceJet reached out to its shareholders to vote on a proposal to raise Rs 2,254 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 to more than 60 investors.
The funding will mainly be used to meet various debt obligations, increase its operational fleet size, clearing jet fuel payments, among other things. The funding comes at a time when SpiceJet has shown interest in acquiring the grounded and bankrupt Go First airline.
