SpiceJet, which has been facing multiple headwinds, on Friday said it has received Rs 744 crore as the first tranche of funds being raised through allotment of securities on a preferential basis.<\/p>\n
On December 12, the airline had said it would raise fresh capital of Rs 2,250 crore through issuance of securities.<\/p>\n
According to a release, on January 25, the company’s board of directors approved the allotment of 5.55 crore equity shares on a preferential basis to 54 subscribers.<\/p>\n
The airline has allotted shares and warrants totalling Rs 744 crore on a preferential basis in the first tranche.<\/p>\n
The board has also approved the allotment of 9.33 crore warrants to Elara India Opportunities Fund Ltd and Silver Stallion Ltd.<\/p>\n
Meanwhile, the airline has requested for additional time from the competent authority to complete the process under the ongoing preferential issue, as per the release.<\/p>\n
The extension has been sought due to limited banking days arising from long weekends during the intervening period, the airline said without disclosing any specific dates.<\/p>\n
Ajay Singh, Chairman and Managing Director of SpiceJet, said the fund infusion will open new avenues for the airline, resulting in a more cash-efficient operation, and expanded fleet and network.<\/p>\n","protected":false},"excerpt":{"rendered":"
SpiceJet, which has been facing multiple headwinds, on Friday said it has received Rs 744 crore as the first tranche of funds being raised through allotment of securities on a preferential basis. On December 12, the airline had said it would raise fresh capital of Rs 2,250 crore through issuance of securities. According to a release, on January 25, the company’s board of directors approved the allotment of 5.55 crore equity shares on a preferential basis to 54 subscribers. The airline has allotted shares and warrants totalling Rs 744 crore on a preferential basis in the first tranche. The board […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[229],"tags":[],"class_list":["post-631698","post","type-post","status-publish","format-standard","hentry","category-civil-aviation"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/631698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=631698"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/631698\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=631698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=631698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=631698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}