SpiceJet raises Rs 316 cr via preferential issue

Mumbai: SpiceJet on Thursday said it has secured an additional Rs316 crore, taking its total funds raised to Rs1,060 crore through a preferential share issue. The fresh capital infusion in the struggling airline comes amid its recent announcement of slashing its workforce by 10-15 per cent. In January SpiceJet had received Rs744 crore as the first tranche of funds through the allotment of securities on a preferential basis.

On December 12, the airline had said it would raise fresh capital of Rs2,250 crore through issuance of securities. “SpiceJet has raised an additional Rs316 crore, bringing the total investments raised to Rs1,060 crore under its preferential issue,” the airline said in a statement. It added, “The Preferential Allotment Committee of SpiceJet’s Board Directors convened on February 21, 2024, approved the allotment of 4.01 crore equity shares on a preferential basis to two investors, including Aries Opportunities Fund Limited.”