 "Spicejet")
Spicejet (Photo: Wikipedia)
Seven of these aircraft will be acquired on lease, while three previously grounded SpiceJet planes are being reintroduced into service, the company said.
It had hit a record peak of Rs 156.90 on June 3, 2019.
SpiceJet will also operationalise its grounded planes in phases, with the first three set to re‐enter service before the end of November.
The QIP had witnessed an overwhelming response from investors, and it attracted a diverse group of top‐tier institutional names, including Goldman Sachs (Singapore), Morgan Stanley Asia, Tata Mutual Fund, and Discovery Global Opportunity.
In addition to the QIP, the airline is set to receive an additional Rs 736 crore from a previous funding round, which is further expected to bolster its financial stability and growth trajectory.
The fresh capital raised will play a key role in ungrounding SpiceJet’s existing aircraft, acquiring new planes, investing in technology, and expanding into new markets. The airline remains focused on restoring its reputation for efficiency and reliability, ensuring passengers benefit from improved connectivity and access to a wider range of travel options, the company said.
ELFC had previously claimed $16.7 million, and the settlement has been reached for an undisclosed amount, which is lower than the initial claim. “This resolution marks another significant step towards strengthening SpiceJet’s financial health,” the company said.
Meanwhile, in another development, Plutus Wealth Management, on October 1, raised its holding in SpiceJet by acquiring additional shares for Rs 50 crore through an open market transaction. According to the bulk deal data available on the BSE, Plutus Wealth Management purchased 7.5 million shares of SpiceJet, at Rs 66.70 per share.
Then on September 30, Plutus bought 8.5 million shares of the company for Rs 51 crore, bulk deal data on the BSE showed.
First Published: Oct 08 2024 | 12:30 PM IST
