SpiceJet receives in-principle approval from BSE for a Rs 2,242 crore capital infusion, aiming to fuel growth, expand network, and bring back grounded planes.
Graphics: KBK Graphics
Mumbai, Jan 15 (PTI) No-frills carrier SpiceJet on Monday said it has received in-principle approval from the BSE for a Rs 2,242 crore capital infusion in the airline.
The Gurugram-based airline also said that a significant portion of the fund infusion will be utilised to fuel the airline's growth, among others.
SpiceJet has received in-principle approval from the BSE for the issuance of equity shares and warrants convertible into equity shares on a preferential basis, the airline said in a statement.
This approval paves the way for a new fund infusion of Rs 2,242 crore in the airline, it said.
A significant portion of the fund infusion will be utilised to fuel the airline's growth, expand its network and bring grounded planes back into operations, SpiceJet said.
"We believe the fund infusion will open new avenues for SpiceJet, enabling us to capitalise on potential opportunities and contribute to the growth of the aviation sector in India," said Ajay Singh, Chairman and Managing Director of SpiceJet.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
© 2024 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback