SpiceJet Raises Rs 3,000 Crore From Institutional Investors
3 months ago

SpiceJet Raises Rs 3,000 Crore From Institutional Investors

News 18  

SpiceJet has raised Rs 3,000 crore through sale of shares to qualified institutional buyers, providing a much-needed tailwind for the struggling airline. Foreign entities, including Societe Generale – ODI, Goldman Sachs Pte – ODI, Nomura Singapore Ltd ODI and Discovery Global Opportunity Ltd are among the investors who have been allotted shares under the airline’s Qualified Institutional Placement that was oversubscribed. The airline’s fundraising committee, on September 20, approved the allotment of more than 48.70 crore shares at a price of Rs 61.60 apiece to the more than 80 QIP participants, according to a regulatory filing. They are Authum Investment and Infrastructure Ltd, Discovery Global Opportunity Ltd, Troo Capital, Societe Generale – ODI and Goldman Sachs Pte – ODI, as per another regulatory filing.

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History of this topic

Explained: Why SpiceJet share price jumped nearly 8% today
5 days, 3 hours ago

Explained: Why SpiceJet share price jumped nearly 8% today

India Today  

SpiceJet shares jumped nearly 8% on Thursday after the airline announced a settlement with aircraft lessor Genesis, resolving a $16 million dispute. Under the agreement, SpiceJet will pay Genesis $6 million, while the lessor will acquire $4 million worth of SpiceJet equity at Rs 100 per share. In a statement, Ajay Singh, Chairman and Managing Director of SpiceJet, said, “This …

SpiceJet's Ajay Singh May Sell Over 10% Stake in Airline to Raise Funds
3 months, 2 weeks ago

SpiceJet's Ajay Singh May Sell Over 10% Stake in Airline to Raise Funds

News 18  

SpiceJet promoter and chairman Ajay Singh may offload more than 10 per cent stake in the struggling carrier as part of the latest funding round that is expected to close by the end of September, according to sources. One of the sources said that Singh could offload up to a 15 per cent stake in the airline if certain conditions …

SpiceJet chairman Ajay Singh may sell over 10% stake in airline to raise funds
3 months, 2 weeks ago

SpiceJet chairman Ajay Singh may sell over 10% stake in airline to raise funds

The Hindu  

SpiceJet promoter and chairman Ajay Singh may offload more than 10% stake in the struggling carrier as part of the latest funding round that is expected to close by the end of September, according to sources. One of the sources said that Mr. Singh could offload up to a 15% stake in the airline if certain conditions are conducive. Mr. …

Indian carrier SpiceJet restructures dues to Carlyle Aviation
3 months, 2 weeks ago

Indian carrier SpiceJet restructures dues to Carlyle Aviation

Hindustan Times  

India's SpiceJet on Friday said it will convert about $97 million of its dues to the commercial aviation investment and servicing arm of Carlyle Group into equity and debentures. A SpiceJet passenger Boeing 737-800 aircraft The restructuring plan comes as the budget airline has struggled to fully restore operations despite multiple fundraises over the last year. The carrier on Friday …

Spicejet Plans to Raise Over Rs 3,200 Crore Via Debt, Equity
3 months, 2 weeks ago

Spicejet Plans to Raise Over Rs 3,200 Crore Via Debt, Equity

News 18  

Cash-strapped domestic carrier Spicejet plans to raise Rs 3,200 crore through QIP, warrants and capital infusion by the promoter, the airline said in a presentation on Friday. “Spicejet plan to raise Rs 2,500 crore through QIP and Rs 736 crore through Previous Warrants and promoter infusion,” the airline said in an investor presentation. Ajay Singh-promoted SpiceJet had earlier in January …

SpiceJet to raise up to ₹3,000 crore via QIP
5 months ago

SpiceJet to raise up to ₹3,000 crore via QIP

Live Mint  

In a relief for low-cost carrier SpiceJet, the board of the budget carrier on Tuesday approved raising up to ₹3,000 crore through a qualified institutional placement. The company informed the stock exchanges that its board has considered and approved raising funds aggregating up to ₹3000 crore through the issue of shares or any other eligible securities to qualified institutional buyers. …

SpiceJet Q4 Results: Net Profit Surges Six-Fold to Rs 119 Crore, FY24 Loss Narrows By 73%
5 months, 1 week ago

SpiceJet Q4 Results: Net Profit Surges Six-Fold to Rs 119 Crore, FY24 Loss Narrows By 73%

News 18  

Spicejet Q4 Results: Budget airline SpiceJet Ltd on Monday reported a sixfold surge in its net profit to Rs 119 crore for the fourth quarter ended March 31, 2024. Spicejet’s net profit had stood at Rs 17 crore in the corresponding period last year, according to the company’s statement. For the fiscal year ended March 31, 2024, SpiceJet significantly reduced …

SpiceJet to lay off 15 per cent of workforce, save Rs 100 crore annually
10 months, 1 week ago

SpiceJet to lay off 15 per cent of workforce, save Rs 100 crore annually

India TV News  

Low-cost carrier SpiceJet is set to lay off 1,400 employees, accounting for approximately 15 per cent of its workforce, as part of efforts to cut operational costs, according to a media report. "As part of our turnaround and cost-cutting strategy, following the recent fund infusion, SpiceJet has initiated several measures, including manpower rationalisation, aimed at achieving profitable growth and positioning …

Stocks to Watch: TCS, Infosys, Spicejet, Nuvama Wealth, Polycab, Kalyani Steels
11 months, 1 week ago

Stocks to Watch: TCS, Infosys, Spicejet, Nuvama Wealth, Polycab, Kalyani Steels

Live Mint  

Following are the top ten stocks that are likely to be in focus on Thursday: Tata Consultancy Services: TCS is expected to report a tepid growth in revenue and profit after tax for the third quarter of the current financial year on account of the prevailing weakness in discretionary spending in key markets in the West. Nuvama Wealth Management: The …

SpiceJet to submit offer to Go First after due diligence to create an ‘airline in collaboration’
1 year ago

SpiceJet to submit offer to Go First after due diligence to create an ‘airline in collaboration’

Firstpost  

The news, which pushed up SpiceJet shares by more than 7%, came after Go First’s lenders began contemplating the airline’s liquidation after they did not get any bids for it within the late November deadline Budget carrier SpiceJet said on Tuesday that it will submit an offer with the resolution professional of Go First after due diligence to “create an …

SpiceJet to soon list shares on National Stock Exchange
1 year ago

SpiceJet to soon list shares on National Stock Exchange

The Hindu  

No-frills airline SpiceJet on December 11 said it will soon be listing its securities on the National Stock Exchange. Shares of the carrier, which is navigating financial turbulence, jumped more than 8% in the morning trade on the BSE. In order to reach a wider investor base, "the company shall soon be listing its securities on National Stock Exchange of …

Delhi High Court orders SpiceJet to pay ₹380 crore to Sun Group’s Maran
1 year, 6 months ago

Delhi High Court orders SpiceJet to pay ₹380 crore to Sun Group’s Maran

Live Mint  

The Delhi High Court has ordered low-fare airline SpiceJet to pay ₹380 crore to its former promoter, Kalanithi Maran of the Sun Group, and asked it to submit an affidavit of assets within four weeks. The High Court ruling on May 29, 2023 originates from a long-running battle between the Maran family and the current promoter, Ajay Singh, and SpiceJet, …

SpiceJet announces revised salary structure- Rs 7 lakh/month for its Captains; applicable from Nov 1, 2022
2 years, 2 months ago

SpiceJet announces revised salary structure- Rs 7 lakh/month for its Captains; applicable from Nov 1, 2022

India TV News  

SpiceJet, which has been facing turbulent times, announced a revised salary structure for its Captains increasing their monthly remuneration to Rs 7 lakh a month for 80 hours of flying. In September, the loss-making airline hiked salaries of its Captains and senior first officers by around 20 per cent with effect from October. The carrier, whose flights have been restricted …

SpiceJet to get ₹1,000 crore under ECLGS
2 years, 2 months ago

SpiceJet to get ₹1,000 crore under ECLGS

The Hindu  

Cash-strapped budget airline SpiceJet will receive an additional ₹1,000 crore under the revised Emergency Credit Line Guarantee Scheme enabling it to “settle the survivability debate”, according to an airline official. “The additional funding will rejuvenate SpiceJet, help it clear all statutory dues, lessor payments, induct brand new MAX planes, operate a younger fleet which will increase operational efficiency and support …

SpiceJet: Flying on a wing and a prayer
2 years, 5 months ago

SpiceJet: Flying on a wing and a prayer

The Hindu  

Published : Jul 20, 2022 17:26 IST Update, July 27:The DGCA has ordered SpiceJet to operate just 50 per cent of its sanctioned flights for eight weeks. In March 2020, the then Civil Aviation Minister Hardeep Singh Puri had shared some statistics in Parliament, according to which about 70-80 per cent incidents occurred due to engineering/technical issues, including system component …

SpiceJet director Ajay Singh booked for allegedly duping businessman of lakhs, airline calls case 'bogus'
2 years, 5 months ago

SpiceJet director Ajay Singh booked for allegedly duping businessman of lakhs, airline calls case 'bogus'

India TV News  

Highlights Complaint of alleged fraud filed by an individual against Chairman Ajay Singh is bogus: SpiceJet A defamation suit will be filed against the complainant Amit Arora, said SpiceJet According to complaint, Singh had delivered fake depository instruction slip for 10L shares to Arora SpiceJet news updates : SpiceJet on Tuesday said the complaint of alleged fraud filed by an …

Deposit ₹243 cr in Maran case: HC to SpiceJet
4 years, 3 months ago

Deposit ₹243 cr in Maran case: HC to SpiceJet

Live Mint  

The Delhi high court on Monday directed SpiceJet Ltd to deposit ₹243 crore with the court registry in the ongoing arbitration case with its former owner Kalanithi Maran and his company, KAL Airways. The court directed the Ajay Singh-led low-fare airline to make the payment within six weeks, adding that if it fails to do so, Maran can approach the …

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