SpiceJet Receives In‐Principle Approval From BSE For Fund Infusion Of ₹2,242 Cr

SpiceJet Receives In‐Principle Approval From BSE For Fund Infusion Of ₹2,242 Cr

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 initiatives.

FPJ Web DeskUpdated: Monday, January 15, 2024, 10:29 AM IST
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SpiceJet Receives In‐Principle Approval From BSE | Image: SpiceJet (Representative)

SpiceJet Ltd. on Monday announced that it has received in‐ principle approval from the Bombay Stock Exchange (BSE) for the issuance of equity shares and warrants convertible into equity shares on a preferential basis, the company announced through an exchange filing.

The approval for the company sets the stage for a new capital injection of Rs 2,242 crore.

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 initiatives. The approval comes on the heels of SpiceJetʹs successful 39th Annual General Meeting (AGM) held on January 10, where the members overwhelmingly approved the proposal for a fund infusion of Rs 2,242 crore.

Ajay Singh, Chairman and Managing Director of SpiceJet, said,  ʺThe in‐principle approval from BSE for the fund infusion is a crucial step for SpiceJet as we embark on a journey to enhance our capabilities and strengthen our position in the Indian aviation sector. We believe the fund infusion will open new avenues for SpiceJet, enabling us to capitalise on potential opportunities and contribute to the growth of the aviation sector in India.”

SpiceJet Ltd. shares

The shares of SpiceJet Ltd. on Monday at 10:25 am IST were at Rs 65.20, down by 0.17 per cent.

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