SpiceJet has secured a significant ₹294.09 crore investment from its founder, Ajay Singh, reinforcing its financial position and fueling future expansion. This move increases the promoter group’s stake in the airline to 33.47%, strengthening its market presence and operational stability.
The capital injection comes through the conversion of 131.4 million warrants into an equal number of equity shares. This strategic step enhances the airline’s financial strength, allowing it to navigate industry challenges more effectively. The promoter group’s stake rises from 29.11% to 33.47%, reinforcing confidence in the airline’s growth strategy.
To facilitate this transaction, Ajay Singh will sell 31.5 million shares of SpiceJet. The proceeds from this sale will contribute to covering 75% of the required amount for the warrant conversion. Previously, Spice Healthcare, an entity controlled by Singh, had already provided ₹98.03 crore as an initial payment, representing 25% of the issue price.
In the fiscal year 2024, Spice Healthcare injected ₹101.97 crore into SpiceJet, securing a 4.99% equity stake. With a total of ₹200 crore invested, this financial boost ensures the airline can meet its funding needs while focusing on expansion and operational efficiency.
SpiceJet’s latest investment signals a commitment to long-term stability. By strengthening its financial base, the airline positions itself for sustainable growth in the highly competitive aviation market. This move not only secures funding but also increases investor confidence in its future trajectory.
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