SpiceJet gets fresh lifeline: Mumbai-based business couple Harihara and Preeti Mahapatra to invest Rs 1,100 crore
Businessman Harihara Mahapatra and his wife Preeti, based in Mumbai, have announced their plans to invest Rs 1,100 crore in SpiceJet, acquiring a 19% stake in the company. Aries Opportunities Fund will hold 3% while Elara Capital will hold 8% after the conversion of warrants, according to a funding proposal reviewed by ET.
Last week, SpiceJet, facing financial difficulties, revealed that it had received a lifeline in the form of investments totaling Rs 2,254 crore from a group of funds and high net worth individuals.
This investment will be made through the issuance of up to 130 million convertible warrants and 320.8 million fresh equity shares.
