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SpiceJet Completes First Tranche of Capital Infusion Aggregating to INR 744 Crore

Gurugram, January 26, 2024: SpiceJet Ltd. has allotted shares and warrants totalling INR 744 Crore on a preferential basis in the first tranche.

On January 25, 2024, the Company’s Board of Directors approved the allotment of 5.55 Crore equity shares on a preferential basis to 54 subscribers. Additionally, the Board approved the allotment of 9.33 Crore warrants, offering the option to apply for and be allotted an equivalent number of equity shares, on a preferential basis to Elara India Opportunities Fund Limited and Silver Stallion Limited.

SpiceJet is due to complete another tranche of equity/warrants raise from remaining subscribers and has requested additional time from the competent authority to complete the process under the ongoing preferential issue, as approved by the shareholders of the Company on January 10, 2024.

The extension is necessitated on account of limited banking days arising from long weekends during the intervening period.

Ajay Singh, Chairman and Managing Director of SpiceJet, said, “We are pleased with the completion of the first tranche of our preferential allotment, which demonstrates the confidence of investors in SpiceJet’s growth prospects and we remain committed to completing the further allotment process progressively. The fund infusion will open new avenues for SpiceJet, resulting in a more cash-efficient operation, expanded fleet and network.”

About SpiceJet:
SpiceJet is India’s favourite airline that has made flying affordable for more Indians than ever before. SpiceJet is an IATA-IOSA certified airline that operates a fleet of Boeing 737s, Q-400s & freighters and is the country’s largest regional player operating multiple daily flights under UDAN or the Regional Connectivity Scheme. The majority of the airline’s fleet offers SpiceMax, the most spacious economy class seating in India.