Monday, Mar 17 2025 | Time 18:57 Hrs(IST)
Business Economy


SpiceJet announces Rs 294.09 cr fund infusion by promoter group

SpiceJet announces Rs 294.09 cr fund infusion by promoter group

New Delhi, Mar 17 (UNI) Low-cost carrier SpiceJet on Monday said that its founder and promoter 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 move will increase the consolidated shareholding of the promoter group in SpiceJet from the current 29.11% to 33.47%.

The fresh fund would be infused through promoter group company Spice Healthcare Pvt Ltd.

"Further, Ajay Singh, Promoter of the Company, is disposing upto 3.15 crore equity shares of the company and utilise the proceeds to enable Spice Healthcare Private Limited to partially fund the balance of 75% of the amount at the time of allotment of the equity shares pursuant to exercise of option to convert said warrants," an official release said.

A meeting of the Board/Board Committee of the company will be held shortly to approve the allotment of equity shares pursuant to the exercise of the warrant conversion option.

Ajay Singh, Chairman and Managing Director, SpiceJet, said, “This fresh infusion reaffirms our unwavering commitment to the airline and its bright future. This investment will further strengthen our financial position and drive growth. SpiceJet has always been a resilient airline and with this fresh capital, we are well positioned to enhance our operations and seize new opportunities.”

UNI NK ARN

More News

Global GDP growth projected to slow down to 3 1 pc in 2025, 3 pc in 2026

17 Mar 2025 | 6:21 PM

Paris, Mar 17 (UNI) Global GDP growth is projected to moderate from 3.2 percent in 2024 to 3.1 percent in 2025 and 3.0 percent in 2026, the Organization for Economic Cooperation and Development (OECD) said on Monday in its latest Economic Outlook.

see more..

Japan's rice prices keep rising amid gov't intervention

17 Mar 2025 | 6:05 PM

Tokyo, Mar 17 (UNI) The average prices of rice at supermarkets across Japan reached 4,077 yen per 5 kg (about 27.5 U.S. dollars) in the week ending March 9, nearly doubling from the same period last year amid the government's move to release reserve rice, official data showed Monday.

see more..

Taxpayers urged to avail one-time interest waiver scheme: K Haritha

17 Mar 2025 | 6:01 PM

Hyderabad, Mar 17 (UNI) K Haritha, IAS, Commissioner of Commercial Taxes, Telangana, has appealed to taxpayers to take advantage of the one-time interest and penalty waiver scheme offered by the government by settling their tax demands by March 31, 2025.

see more..

Poonawalla Fincorp launches commercial vehicle loan business for Bharat

17 Mar 2025 | 5:53 PM

Kolkata, Mar 17 (UNI) Poonawalla Fincorp Limited (PFL) has expanded its product suite with the launch of its Commercial Vehicle (CV) Secured Loan Business.

see more..
Nutraceutical Market: Comprehensive insights into India and  global landscape

Nutraceutical Market: Comprehensive insights into India and global landscape

17 Mar 2025 | 5:35 PM

New Delhi, Mar 17 (UNI) The nutraceutical industry has become a beacon of health and wellness in the modern era. With its roots in preventive healthcare, this dynamic sector combines the best of nutrition and pharmaceuticals, offering products designed to boost overall health, prevent chronic diseases, and improve life quality.

see more..