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GURUGRAM, March 17, 2025: SpiceJet today announced that its Founder and Promoter, Ajay Singh, through M/s Spice Healthcare Private Limited (a Promoter Group Company), will infuse INR 294.09 crore into the company through the conversion of 13,14,08,514 warrants into an equivalent number of equity shares (13.14 crore equity shares). This strategic move will increase the consolidated shareholding of the Promoter Group in SpiceJet from the current 29.11% to 33.47%.
Further, Mr. Ajay Singh, Promoter of the Company, is disposing upto 3.15 Crore equity shares of the Company and utilize the proceeds to enable Spice Healthcare Private Limited to partially fund the balance of 75% of the amount at the time of allotment of the equity shares pursuant to exercise of option to convert said warrants.
The infusion underscores the Promoter Group’s continued confidence in SpiceJet’s long-term growth potential and strategic direction.
A meeting of the Board/Board Committee of the Company will be held shortly, on or before March 18, 2025, to approve the allotment of equity shares pursuant to the exercise of the warrant conversion option.
Ajay Singh, Chairman and Managing Director, SpiceJet, said, “This fresh infusion reaffirms our unwavering commitment to the airline and its bright future. This investment will further strengthen our financial position and drive growth. SpiceJet has always been a resilient airline and with this fresh capital, we are well positioned to enhance our operations and seize new opportunities.”
The successful conversion of warrants and subsequent capital infusion marks another significant step in SpiceJet’s ongoing turnaround strategy.
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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