Spice Healthcare will convert 13.14 crore warrants into equity shares. Upon share allotment, the promoter group stake will rise to 33.47% from 29.11%.
“SpiceJet today announced that its founder and promoter, Ajay Singh, through Spice Healthcare (a promoter group company), will infuse ₹
294.09 crore into the company through the conversion of 13,14,08,514 warrants into an equivalent number of equity shares (13.14 crore equity shares),” the company said in a regulatory filing.
The airline also said that a meeting of the company’s board will be held on March 18, 2025, to approve the allotment of equity shares pursuant to the exercise of the warrant conversion option.
“This fresh infusion reaffirms our unwavering commitment to the airline and its bright future. This investment will further strengthen our financial position and drive growth. SpiceJet has always been a resilient airline and with this fresh capital, we are well positioned to enhance our operations and seize new opportunities,” said Ajay Singh, Chairman and Managing Director of SpiceJet.
Last week, Singh sold some stake in the airline via block deals on Thursday. The SpiceJet CMD sold 1.15 crore shares or 0.89% of the total equity through these blocks, data indicated. The 1.15 crore shares were sold at an average price of ₹45.34 per share, taking the total transaction value to ₹52 crore.
Following the disclosure, shares of Spicejet Ltd. were trading 7% higher at ₹48.58. SpiceJet shares have corrected 16% so far in 2025.
(Edited by : Amrita)
First Published: Mar 17, 2025 10:18 AM IST
