SpiceJet on Monday (March 17, 2025) stated its founder Ajay Singh will infuse ₹294 crore into the airline through a promoter group entity by the use of conversion of warrants into fairness shares, following which promoter group’s shareholding will improve to over 33%.
Mr. Singh, additionally the Chairman and Managing Director of the provider, shall be infusing the funds through Spice Healthcare Private Limited, a promoter group firm.
In a launch on Monday (Monday 17, 2025), SpiceJet stated Mr. Singh will infuse ₹294.09 crore into the corporate through the conversion of 13,14,08,514 warrants into an equal variety of fairness shares (13.14 crore fairness shares).
“This strategic move will increase the consolidated shareholding of the promoter group in SpiceJet from the current 29.11% to 33.47%,” the discharge stated.
Besides, Mr. Singh is promoting up to 3.15 crore fairness shares of the airline and the proceeds shall be utilised to allow Spice Healthcare Private Limited to partially fund the steadiness of 75% of the quantity on the time of allotment of the fairness shares pursuant to train of possibility to convert the stated warrants.
The fund infusion by Mr. Singh is expounded to a fundraise plan introduced earlier.
A gathering of the SpiceJet board/ board committee shall be held on or earlier than March 18, to approve the allotment of fairness shares pursuant to the train of the warrant conversion possibility, the discharge stated on Monday (March 17, 2025).
Mr. Singh stated the funding will additional strengthen the airline’s monetary place and drive development.
Against the backdrop of headwinds that have been confronted by SpiceJet, he additionally stated the profitable conversion of warrants and subsequent capital infusion marks one other important step within the airline’s ongoing turnaround technique.
On Thursday (March 13, 2025), Mr. Singh divested almost 1% stake within the finances airline for ₹52 crore through an open market transaction.
Last month, SpiceJet reported a revenue after tax of ₹26 crore for the three months ended December 2024, helped by total improved efficiency.
Shares of SpiceJet rose over 4% to ₹47.30 apiece within the morning commerce on the Bombay Stock Exchange.
Published – March 17, 2025 11:35 am IST
