Budget carrier SpiceJet’s promoters will make a fresh infusion in the cash-strapped airline. The airline’s board decided to issue warrants to the promoters on a preferential basis. The warrants are convertible into equity shares. Kalanithi Maran, owner of Sun Group, controls 53.5 per cent stake in the airline.
The airline will issue and allot up to 189.1 million warrants convertible into equivalent number of equity shares, in various tranches, to the promoters of the company, at a price to be determined according to Securities and Exchange Board of India (SEBI) regulations.
SpiceJet is India’s most preferred airline who delivers the lowest air fares with the highest consumer value. The airline currently operates more than 350 daily flights to over 44 Indian cities and 9 international destinations.
Company Name | CMP |
---|---|
Interglobe Aviation | 4372.00 |
SpiceJet | 62.59 |
Global Vectra Helico | 199.10 |
Jet Airways (I) | 46.60 |
Taneja Aerospace | 460.85 |
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