Budget carrier SpiceJet’s Board will decide on the proposal to raise $100 million to infuse fresh equity into the airline in a meeting on December 11.
In a filing on Wednesday, the low-cost carrier informed that its board will meet on Monday to discuss and consider options for raising fresh capital through the issue of equity shares or convertible securities on a preferential basis.
The proposal, if approved, will be subject to shareholders’ approval and other regulatory approvals. Subsequently, the airline’s stock jumped 20% on the BSE, hitting the upper circuit on Thursday afternoon.
