SpiceJet, India's second-biggest budget carrier by market share has received its shareholders nod to raise funds through issue of debentures and warrants, on preferential basis, to its promoter Kalanithi Maran. This fresh issue will raise the promoter's shareholding to 43%.
In the last year promoter-Maran had infused Rs 130 crore, increasing his stake to a little over 38%. Other than this the entity has also got approval for raising company’s authorized share capital to Rs 1,000 crore from the current Rs 565 crore.
