SpiceJet has received in-principle approval from the Bombay Stock Exchange (BSE) for the issuance of equity shares and warrants convertible into equity shares on a preferential basis. This approval marks a significant milestone for the company and paves the way for a new fund infusion of Rs 2242 crore.
The in-principle approval from BSE allows SpiceJet to proceed with the process of fund infusion, providing the airline with the necessary financial impetus for its growth initiatives. The approval comes on the heels of SpiceJet?s successful 39th Annual General Meeting (AGM) held on January 10, where the members overwhelmingly approved the proposal for a fund infusion of Rs 2242 crore.
A significant portion of the fund infusion will be utilized to fuel the airline’s growth, expand its network, bring grounded planes back into operation and position SpiceJet as a more resilient and competitive player in the aviation industry.
SpiceJet is among the first private companies that stepped into the Indian aviation sector.
