Spicejet has alloted 1.5 crore equity shares, after an equal number of warrants were converted to its promoter Kalanithi Maran at a price of Rs 36.18 per share. These warrants were exercisable for conversion into equity shares within 18 months from the date of allotment.
The amount paid for this purpose aggregated to Rs 54.27 crore, while the proceeds from the current infusion would be utilised towards working capital requirements of the company in accordance with the terms of the issue.
Post allotment, the holding of the promoters has increased to 53.48% in the company. Of total, which Kalanithi Maran individually holds 24.24%, while the balance 29.24% is held by KAL Airways.
