India, March 17 -- SpiceJet has announced a fresh capital infusion of Rs 294.09 crore by its Founder and Promoter, Ajay Singh, through M/s Spice Healthcare Private Limited (a Promoter Group entity). The investment will be made via the conversion of 13.14 crore warrants into equity shares, raising the Promoter Group's stake from 29.11% to 33.47%.
To facilitate this transaction, Ajay Singh plans to sell up to 3.15 crore equity shares, using the proceeds to partially fund the remaining 75% of the warrant conversion cost. The Board of Directors is set to convene on or before March 18, 2025, to approve the equity allotment.
Commenting on the move, Ajay Singh, Chairman and Managing Director of SpiceJet, stated: "This fresh infusion reaffirms ou...