SpiceJet board to meet on January 10 to finalise preferential allotment

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₹2,241.5 crore, aimed at fortifying the company's financial standing and facilitating investments in growth initiatives. As per the company's regulatory filing today, SpiceJet plans to allocate a total of 31,83,00,000 equity shares at an issue price of ₹50 each to 58 entities.

Additionally, the company will allot 13,00,00,000 warrants with an option to apply for and receive an equivalent number of equity shares on a preferential basis, to five entities at an issue price of ₹50 each. Also Read: Sky-high fares hit air traffic in November; Akasa Air most punctual The filing further reveals that the promoter and promoter group's shareholding is expected to decrease from 56.49% to 38.55% if the aforementioned equity is issued to the 58 entities.

However, if the warrants issued to the other five entities are converted into equity, the shareholding of the promoter and promoter group will further reduce to 34.13%, according to the company's exchange filing. SpiceJet said the preferential issuance of securities will be made to various investors, including Elara India Opportunities Fund, Aries Opportunities Fund, Mahapatra Universal Ltd., Nexus Global Fund, Prabhudas Lilladher, and Resonance Opportunities Fund.

In August, SpiceJet allocated more than 48 million shares to nine aircraft lessors to clear outstanding dues totaling ₹2.31 billion (about $28 million). Meanwhile, in the last trading session, the company's shares hit a new 52-week high of ₹69.20 apiece after the company said it had expressed interest in acquiring Go First.