In a bid to navigate multiple challenges, SpiceJet announced on Friday that it has successfully received Rs 744 crore as the initial tranche of funds through the issuance of securities on a preferential basis. This move is part of the airline’s broader plan to raise fresh capital amounting to Rs 2,250 crore.
Board Approval and Equity Shares Allotment
On January 25, the airline’s board of directors granted approval for the allotment of 5.55 crore equity shares on a preferential basis to 54 subscribers. This strategic move aims to strengthen the Spicejet‘s financial position and address the hurdles it has been facing.
