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SpiceJet will issue convertible warrants to 64 allottees, including Prabhudas Lilladher Advisory Services, LKP Finance, Martina Developers, and Fincon, at Rs 50 apiece. This is 18.4% lower than the airline's stock price of Rs 61.3 when markets closed on December 11
Last week, SpiceJet announced a plan to raise over Rs 2,250 crore by issuing up to 130 million convertible warrants. This capital infusion could support the airline in its potential acquisition of Go First, sources have said
SpiceJet will issue convertible warrants to 64 allottees, including Prabhudas Lilladher Advisory Services, LKP Finance, Martina Developers, and Fincon
Revenue from operations fell 27 percent to Rs 1,425.29 crore, from the year-ago period when the airline had reported a top line of Rs 1,952.61 crore
Currently, SpiceJet's promoters, led by Ajay Singh, hold a 56.5 percent stake in the company. Of this, 37.9 percent is pledged with various lenders. The airline posted a net loss of Rs 431.54 in Q2FY24, compared to a net loss of Rs 837.8 crore in the same period a year ago.