SpiceXpress, the cargo division of SpiceJet, on Monday announced that UK-based SRAM & MRAM Group will invest $100 million in SpiceXpress and Logistics Pvt. Limited. The airline said that both sides have signed a Memorandum of understanding (MoU) as part of the investment deal.
In a filing with the stock exchanges, SpiceXpress said, “The MoU with SRAM & MRAM Group follows a restructuring agreement with aircraft lessor Carlyle Aviation Partner wherein the latter picked up a stake in SpiceXpress at an anticipated future valuation of $1.5 billion or Rs 12,422 crore.”
