SpiceJet to raise R133 cr from promoters

The price is to be determined as per Sebi’s regulations on issue of capital and disclosure requirements.

New Delhi | Published:January 11, 2014 1:40 am

Promoters of SpiceJet have said that they would infuse around Rs 133.34 crore through a warrant issue, which will lead to an increase in their stake in the firm to 58.46 per cent from 52.41 per cent currently. The infusion of equity comes at a time when the airline is reportedly buying 42 Boeing 737-MAX jets estimated to be worth over $4 billion.

The company, in a BSE filing on Friday, said that the board of directors at a meeting on January 9 decided to issue up to 64.17 million shares of the face value of Rs 10 each on preferential basis to promoters with the option to apply for and be allotted an equivalent number of equity shares.

The price is to be determined as per Sebi’s regulations on issue of capital and disclosure requirements.

Promoters of SpiceJet have said that they would infuse around Rs 133.34 crore through a warrant issue, which will lead to an increase in their stake in the firm to 58.46 per cent from 52.41 per cent currently. The infusion of equity comes at a time when the airline is reportedly buying 42 Boeing 737-MAX jets estimated to be worth over $4 billion.

The company, in a BSE filing on Friday, said that the board of directors at a meeting on January 9 decided to issue up to 64.17 million shares of the face value of Rs 10 each on preferential basis to promoters with the option to apply for and be allotted an equivalent number of equity shares.

The price is to be determined as per Sebi’s regulations on issue of capital and disclosure requirements.

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