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SpiceJet Raises Additional INR 316 Crore; Total Investments Reach INR 1060 Crore Strengthening Company's Financial Position

GURUGRAM, February 22, 2024: SpiceJet has raised an additional INR 316 Crore, bringing the total investments raised to INR 1060 crore under its preferential issue. The combined sum reflects strong investor confidence in SpiceJet's future and unlocks exciting opportunities for the company.

The Preferential Allotment Committee of SpiceJet’s Board of 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. Additionally, the Committee sanctioned the allotment of 2.31 Crore warrants, offering the option to apply for and be allotted an equivalent number of equity shares, to four investors, including Elara India Opportunities Fund Limited.

Ajay Singh, Chairman and Managing Director of SpiceJet, said, "The Company has raised a total investment of INR 1060 Crore. This significant capital infusion reaffirms investor confidence in SpiceJet's growth prospects and strengthens our financial position for the future. With this additional funding, we are well-equipped to pursue our expansion plans and enhance our operational capabilities."

“The overwhelming response that we have received from investors has been incredibly encouraging. It has broadened our perspective on the potential opportunities ahead.”

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.