Spicejet plans to raise money from its promoters

14 Jan 2014

Indian budget carrier Spicejet is seeking its members’ approval to raise the promoters’ stake in the company by almost 5%.

Earlier on January 9, 2014, the company’s board of directors decided to issue up to 6,41,69,000 warrants of the face value of Rs 10 each on preferential basis to promoters with the option to apply for and be allotted an equivalent number of equity shares.

The proceeds of the preferential issue are proposed to be utilised for expansion program of the company, its working capital requirements and repayment of loans.

SpiceJet is India’s most preferred airline 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.

Related Spicejet Ltd. Links:

Spice Jet Share Price

69.90 -1.95 (-2.71%) May 14, 18:01
1 Year Price Chart
Peers
Company Name CMP
Interglobe Aviation 1694.70
Hindustan Aeron 983.20
Spice Jet 69.90
Global Vectra Helico 42.10
Jet Airways (I) 89.70
View more..
Sensex vs Spice Jet
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

Callback