Ajay Singh, promoter of SpiceJet, is likely to dilute his shareholding in the cash-strapped airline by more than 10% stake in an effort to raise about ₹3,000 crore, said people aware of the development. Singh will remain SpiceJet’s single-largest shareholder after the fundraising, which is expected to be completed by September, the people said, adding … Read more
NEW DELHI: EaseMyTrip founder Nishant Pitti has raised by another Rs 150 crore his joint bid for Go First (earlier GoAir) along with SpiceJet chairman & MD Ajay Singh. The initial bid, with Pitti providing the funding and Singh operational know-how, is learnt to have been Rs 500-600 crore, say sources.However, with the erstwhile Wadia … Read more
Home Business SpiceJet Settles Rs 250 Cr Dispute With Aircraft Lessor Celestial Aviation; Shares Rebound The matter is further scheduled to be formally withdrawn on March 1 & both parties have informed the National Company Law Tribunal (NCLT) bench about the settlement. SpiceJet Airline Mumbai: Airline Spicejet announced settlement of a Rs 250 crore dispute … Read more
NEW DELHI: Promoter Ajay Singh-led airline SpiceJet said it has completed raising the first tranche of capital infusion worth Rs 744 crore through the allotment of securities on a preferential basis.SpiceJet, which has been facing multiple headwinds, said in a media statement that its Board of Directors met on January 25 this year and approved … Read more
NEW DELHI: Low cost carrier SpiceJet Friday said it has allotted shares and warrants totalling Rs 744 crore on a preferential basis in the first tranche. On Jan 25, 2024, the company’s board had approved the allotment of 5.55 crore equity shares on a preferential basis to 54 subscribers. Additionally, the board has approved the … Read more
Businessman Harihara Mahapatra and his wife Preeti, based in Mumbai, have announced their plans to invest Rs 1,100 crore in SpiceJet, acquiring a 19% stake in the company. Aries Opportunities Fund will hold 3% while Elara Capital will hold 8% after the conversion of warrants, according to a funding proposal reviewed by ET.Last week, SpiceJet, … Read more
Cash-strapped airline SpiceJet got a lifeline as a clutch of funds and high net worth individuals will invest Rs 2,254 crore through the issue of up to 130 million convertible warrants and 320.8 million fresh equity shares. The fundraising counts 64 investors amongst which there are funds like Elara India Opportunities Fund, Aries Opportunities Fund, … Read more
RAIPUR: An alleged courier arrested by the Enforcement Directorate (ED) in the Mahadev betting app case on Friday submitted before a special court that he had been framed up as part of a conspiracy and he had never delivered cash to politicians.Asim Das, the alleged cash courier, and constable Bhim Singh Yadav were arrested by … Read more
NEW DELHI: SpiceJet on Monday approved allotting 4.8 crore shares to nine aircraft lessors to reduce its dues by Rs 231 crore. The shares will be allotted at Rs 48 apiece – a premium of 54% over Monday’s closing price of Rs 31.1 on the BSE. The cash-strapped airline had earlier also given equity to … Read more