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GURUGRAM, March 19, 2025: SpiceJet today announced the successful infusion of INR 294.09 crore by its Founder and Promoter, Ajay Singh, through M/s Spice Healthcare Private Limited (a Promoter Group Company), marking a key milestone in the airline’s strategic turnaround. The capital has been raised through the conversion of 13.14 crore warrants into an equivalent number of equity shares, increasing the consolidated shareholding of the Promoter Group from 29.11% to 33.47%.
This latest capital infusion underscores the Promoter Group’s unwavering confidence in SpiceJet’s long-term growth potential and strategic vision. This also marks successful completion of overall INR 500 crore support from the Promoter, Mr Ajay Singh in equity infusion, who committed to such support and infusion at one of the most difficult times.
Ajay Singh, Chairman and Managing Director, SpiceJet, said, “We are delighted to have successfully completed this fund infusion, which reaffirms our commitment to SpiceJet's growth and success. This investment will further strengthen the company’s financial position, drive growth, and enhance our operations. We are well-positioned to seize new opportunities and continue to deliver value to our customers and stakeholders."
The successful conversion of warrants and the capital infusion mark a significant step forward in SpiceJet’s ongoing turnaround strategy, reinforcing its financial stability and supporting future expansion in both domestic and international markets.
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 and is one of the country's largest regional players 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.
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