SpiceJet to list on NSE; may get Rs 1,300 cr lifeline from two ‘big investors’; stock up 35% in 3 days

Ajay Singh’s SpiceJet, whose board is set to meet on Monday to consider fund raising efforts, is set to receive a much-needed lifeline. Two ‘big investors’ are likely to invest more than Rs 1,000 crore in the struggling airline, Times of India reported, citing sources. One investor is expected to inject around Rs 1,000-1,200 crore, while the other may contribute up to Rs 300 crore, the report said.

In a communication to the BSE stock exchange had said that its “board in its meeting scheduled on December 11, 2023 (Monday) will discuss and consider, inter-alia, options for raising fresh capital through issue of equity shares and/or convertible securities on preferential basis.”