SpiceJet improves financial position with another Rs 316 crore fundraising
SpiceJet has secured Rs 316 crore in investments, allocated equity shares and issued warrants to investors, according to sources. The funding strengthens their financial position, supports expansion initiatives, and enables cost-cutting measures, including employee layoffs and fleet upgrades.
In a move signaling investor confidence, SpiceJet has secured an additional Rs 316 crore in investments, ramping up its total funds raised to Rs 1,060 crore through a preferential issue, sources aware of the development said.
The combined sum reflects strong investor confidence in SpiceJet’s future and unlocks exciting opportunities for the company.
During the Preferential Allotment Committee’s meeting on February 21, 2024, SpiceJet’s Board of Directors greenlit the allocation of 4.01 crore equity shares to two investors, including Aries Opportunities Fund Limited.