SpiceJet’s promoter group hikes stake to over 33%

Budget airline SpiceJet’s promoter group has hiked its stake in the passenger carrier to 33.47 per cent from 29.11 per cent via capital infusion.

Accordingly, its founder and promoter, Ajay Singh, through Spice Healthcare Private Ltd (a promoter group company), infused ₹294.09 crore as equity.

The said capital was raised through the conversion of 13.14 crore warrants into an equivalent number of equity shares, increasing the consolidated shareholding of the promoter group from 29.11 per cent to 33.47 per cent.

As per the airline, the latest capital infusion underscores the promoter group’s unwavering confidence in SpiceJet’s long-term growth potential and strategic vision.

Besides, the fund infusion marked the completion of an overall ₹500 crore support from Singh in equity infusion. Singh had earlier committed to such support and infusion.

Investment

“This investment will further strengthen the company’s financial position, drive growth, and enhance our operations,” said  Singh.

“We are well-positioned to seize new opportunities and continue to deliver value to our customers and stakeholders, he said.”