SpiceJet: Elara India Opportunities fund converts 34.66 Lakh warrants into shares

SpiceJet, the budget airline, has announced that Elara India Opportunities Fund has converted 34.66 lakh warrants into shares. This conversion follows SpiceJet's previous decision to allocate the first tranche of equity shares and warrants to raise Rs 744 crore on January 25, 2024.

In January, Elara received 8.33 crore warrants in SpiceJet at Rs 50 per warrant. Today, SpiceJet's board approved the allotment of 34.66 lakh shares, each with a face value of Rs 10, issued at Rs 50 per share, to Elara India Opportunities Fund, totaling Rs 17.33 crore.

Furthermore, SpiceJet also granted 1 crore warrants at the same price to Silver Stallion.

On March 11, SpiceJet's stock experienced a 4.16 percent decline, closing at Rs 60.58.

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