Bringing the total investments being raised to INR 1,060 crore under its preferential issue, SpiceJet, the budget carrier of India, said it has raised an additional Rs 316 crore on Thursday.
Unlocking exciting opportunities for the company, this combined sum shows strong investor confidence in SpiceJet's future. The Preferential Allotment Committee of SpiceJet's Board of Directors has approved the two investors, including Aries Opportunities Fund Ltd with respect to the allotment of 4.01 crore equity shares on a preferential basis.
Furthermore, including Elara India Opportunities Fund Ltd," the committee sanctioned the allotment of 2.31 crore warrants additionally. Thereby offering the option to apply for and be allotted an equivalent number of equity shares, to four investors.
"The company has raised a total investment of Rs 1,060 crore. This significant capital infusion reaffirms investor confidence in SpiceJet's growth prospects and strengthens our financial position for the future. With this additional funding, we are well-equipped to pursue our expansion plans and enhance our operational capabilities," stated Ajay Singh, Chairman and Managing Director of SpiceJet.
Ajay further added that the shere response that the company has received from the investors has been overwhelming and really encouraging. If we see today, the stock today saw an upsurge of 7.66 percent which is expected to hit a day high of Rs 70.60 considering its previous close of Rs 65.58.
