Budget airline SpiceJet has approved the allotment of 4.01 crore equity shares to two investors. Additionally, the committee also approved the allotment of 2.31 crore warrants for which four investors including Elara India Opportunities Fund Limited have been given the option to apply and be allotted equal number of equity shares.
On Thursday, SpiceJet said its preferential allotment committee has approved the allotment of an additional 2.31 crore warrants of up to 4.01 crore equity shares to two investors, including Aries Opportunities Fund Ltd, on a preferential basis.
An airline spokesperson also confirmed SpiceJet raising an additional Rs 316 crore, taking the total investment under its preferential issue to Rs 1,060 crore.
SpiceJet Chairman and Managing Director Ajay Singh said, “The company has raised a total investment of Rs 1,060 crore. Which shows the confidence that investors have in the growth prospects of SpiceJet. This important capital investment strengthens our financial position for the future. “We are well-equipped to advance our operational capabilities and expansion plans with this additional funding.”
Ajay Singh further said, “The excellent response being received from investors is really encouraging. “This has broadened our perspective to the potential opportunities ahead.”
In January, SpiceJet had allotted shares and warrants worth a total of Rs 744 crore in the first tranche of its preferential issue.