NEW DELHI: Private airline SpiceJet on Friday said it has allotted shares and warrants totalling Rs 744 Crore on a preferential basis in the first tranche.
On January 25, 2024, the Company’s Board of Directors approved the allotment of 5.55 crore equity shares on a preferential basis to 54 subscribers. Additionally, the Board approved the allotment of 9.33 Crore warrants, offering the option to apply for and be allotted an equivalent number of equity shares, on a preferential basis to Elara India Opportunities Fund Limited and Silver Stallion Limited.
SpiceJet said it is due to complete another tranche of raising equity/warrants from remaining subscribers and has requested additional time from the authority to complete the process under the ongoing preferential issue, as approved by the shareholders of the Company on January 10, 2024.