New Delhi: low cost carrier spicejet On Friday said it has allotted shares and warrants worth a total of Rs 744 crore on preferential basis in the first tranche. On January 25, 2024, the company’s board had approved the allotment of 5.55 crore equity shares to 54 customers on preferential basis. Additionally, the Board has approved the allotment of 9.33 crore warrants with an option to apply for and allot an equivalent number of equity shares on a preferential basis. Elara India Opportunities Fund Limited And Silver Stallion LimitedSpiceJet said in a statement.
“SpiceJet is yet to complete another tranche of equity/warrants raised from the remaining customers and has requested additional time from the competent authority to complete the process under the ongoing preferential issue as approved by the shareholders of the company on January 10, 2024 Is.” The statement said.
“The extension is necessary due to limited banking days resulting from long weekends during the intervening period.”
SpiceJet CMD Ajay Singh said: “We are pleased with the completion of the first tranche of our preferential allotment, which reflects investor confidence in the growth prospects of SpiceJet and we are committed to progressively completing the further allotment process. The fund infusion will open new avenues for SpiceJet, resulting in more cash-efficient operations, expanded fleet and network.