The Board of Directors of SpiceJet Ltd on Tuesday approved the raising of fresh capital of over Rs 2,250 crore (approximately $270 million) through the issuance of equity shares to financial institutions, FIIs, HNIs and private investors.
In a unanimous decision, the Board considered and approved issuance of equity shares/equity warrants under private placement basis, subject to shareholder and regulatory approvals as may be required. The fundraise is aimed at fortifying the airline’s financial strength and accelerating its growth trajectory, it said in a statement.
