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The low-cost carrier is looking to raise Rs 1,591 crore in the first tranche, which is expected to be done by June 2024. In the second tranche, the airline will raise Rs 650 crore and is expected to complete the process by June 2025. 

In an exchange filing on Tuesday, the airline said Harihara Mahapatra and Preeti Mahapatra, who are promoters of the Mumbai-based group Mahapatra Universal Limited, will hold more than 21 stake in the airline.

Shares of SpiceJet jumped nearly 8% to hit a fresh 52-week high of Rs 69.20 on Tuesday

Go First stopped its operations on May 3 this year amid financial woes mainly triggered by Pratt & Whitney engine issues.

SpiceJet shares surge by 7.77% to reach a new 52-week high of ₹69.20 apiece, following a 20% surge in the previous trading session.

If the EoI is accepted, SpiceJet will get access to the data room of Go First, which could help the Ajay Singh-led airline to benchmark its own current situation and what its future would be like.

SpiceJet's bid to acquire GoFirst signals a strategic move to strengthen its market position. However, the carrier's own operational and financial hurdles may pose integration challenges.

Sky One, an aviation company headquartered in Sharjah, and SpiceJet have shown interest in acquiring the financially troubled airline Go First.This unexpected development comes weeks after a proposal deadline had passed and while lenders were ...

In a regulatory filing, SpiceJet confirmed that it has expressed interest in acquiring Go First, which is currently undergoing the corporate insolvency resolution process (CIRP) after it decided to voluntarily file for insolvency in early May.