SpiceJet to Raise Rs 2,250 Crore Through Equity Shares
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.
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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