SpiceJet is an airline that has been facing multiple headwinds. The company announced it would raise fresh capital of Rs 2,250 crore through issuance of securities and on January 25 approved allotment of 5.55 crore equity shares on a preferential basis to 54 subscribers. On Friday it received Rs 744 crore as the first tranche, comprising shares and warrants allotted on a preferential basis. The board also approved the allotment of 9.33 crore warrants to Elara India Opportunities Fund Ltd and Silver Stallion Ltd. The airline has requested additional time from the competent authority to complete the ongoing preferential issue, citing limited banking days due to long weekends. Chairman Ajay Singh said the fund infusion will enable more cash-efficient operations and support an expanded fleet and network.

Total raised

$89M

Funding rounds

1

Latest round

Equity

Latest activity

Jan 2024