SpiceJet announces plans to raise Rs 2,250 crore through equity shares to boost its financial position and expand its market reach. The airline reported a net loss of Rs 428 crore in the September quarter.
New Delhi, Dec 12 (PTI) Crisis-hit SpiceJet on Tuesday said it will raise fresh capital of Rs 2,250 crore through issuance of equity shares.
The airline's board has approved the issuance of equity shares/equity warrants under a private placement basis.
The proposed fund infusion will go a long way in enhancing product presence and market reach as well as provide a deep financial foundation, the airline said in a filing.
For the quarter ended September, the airline posted a net loss of Rs 428 crore.
In the year-ago period, the net loss stood at Rs 835 crore.
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