SpiceJet boosts finances with Rs 316 Crore infusion amidst workforce reduction
SpiceJet on Thursday announced that it has successfully raised an additional Rs 316 crore, bringing its total raised funds to Rs 1,060 crore through a preferential share issue. This development follows the company’s recent decision to reduce its workforce by 10-15%.
In January, SpiceJet received the first tranche of funds amounting to Rs 744 crore through the allotment of securities on a preferential basis. This initial investment marked the beginning of SpiceJet’s efforts to raise fresh capital of Rs 2,250 crore through the issuance of securities.
