SpiceJet announced that its founder and promoter, Ajay Singh, through Spice Healthcare, a promoter group entity, will infuse ₹294.09 crore into the airline. The investment will be made through the conversion of 131.4 million warrants into an equal number of equity shares. This will raise the promoter group’s consolidated shareholding in the airline from 29.11% to 33.47%.
Ajay Singh is also disposing of up to 31.5 million equity shares of SpiceJet to generate funds, which will enable Spice Healthcare to partially finance the remaining 75% of the amount required at the time of allotment of equity shares upon exercising the warrant conversion option.
Spice Healthcare has already infused ₹98.03 crore, representing 25% of the issue price, towards the warrant subscription. In FY24, it invested ₹101.97 crore in SpiceJet, acquiring a 4.99% stake. A total of ₹200 crore was infused by Spice Healthcare during the financial year to support the airline’s financial requirements.
A board or board committee meeting will be held on or before March 18 to approve the allotment of equity shares related to the warrant conversion.
Ajay Singh stated that the investment will strengthen the airline’s financial position and drive future growth, positioning it to enhance operations and capitalize on new opportunities.
