SpiceJet gets over Rs 900 crore funding, focus on cost-cutting measures
The latest installment came recently after its Chairman and Managing Director Ajay Singh infused funds into the airline.
The latest installment came recently after its Chairman and Managing Director Ajay Singh infused funds into the airline.
The decision was taken by the company's Board of Directors on Thursday, marking a significant step in bolstering SpiceJet's financial position.
The in-principle approval from BSE allows SpiceJet to proceed with the process of fund infusion, providing the airline with the necessary financial impetus for its growth.
The low-cost carrier, SpiceJet, will issue convertible warrants to 64 allottees, including Prabhudas Lilladher Advisory Services, LKP Finance, Martina Developers, and Fincon.
The Company’s board will meet on December 11 to consider options to raise fresh capital, according to an exchange filing.
SpiceJet will deliberate on raising fresh capital through the issue of equity shares in its Board meeting on December 11, according to a stock exchange filing.
It is to be noted that last week, SpiceJet moved a division bench of the Delhi high court seeking damages from Kalanithi Maran alleging a breach of contract by the latter.
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