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CMD Ajay Singh to infuse Rs 294 cr in airline via another entity: SpiceJet

Business Standard LogoBusiness Standard9h ago

CMD Ajay Singh to infuse Rs 294 cr in airline via another entity: SpiceJet - Business Standard

Quick Summary:

SpiceJet on Monday said its founder Ajay Singh will infuse Rs 294 crore into the airline through a promoter group entity by way of conversion of warrants into equity shares, following which promoter group's shareholding will increase to over 33 per cent.

In a release on Monday, SpiceJet said Singh will infuse Rs 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).

"This strategic move will increase the consolidated shareholding of the promoter group in SpiceJet from the current 29.11 per cent to 33.47 per cent," the release said.


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Article Details

Category: BusinessFinance

Markets:

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Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-17 @ 11:20:02 (9 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 459 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 27073223

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Official Website: business-standard.com

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News Last Updated: 2 hours ago

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