SpiceJet to Infuse INR 294 Crore by Promoter Group, Raising Stake to 33.47%

GURUGRAM, March 17, 2025: SpiceJet Founder and Promoter, Ajay Singh, through Spice Healthcare Private Limited (a Promoter Group Company), will infuse INR 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% to 33.47%.

Further, Mr. Ajay Singh, Promoter of the Company, is disposing upto 3.15 Crore equity shares of the Company and utilize 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.

Join PSU Connect on WhatsApp now for quick updates! Whatsapp Channel

Read Also : MTNL announced re-appointment of two Independent Directors

The infusion underscores the Promoter Group’s continued confidence in SpiceJet’s long term growth potential and strategic direction. A meeting of the Board/Board Committee of the Company will be held shortly, on or before March 18, 2025, to approve the allotment of equity shares pursuant to the exercise of the warrant conversion option.

Read Also : RITES Ltd receives work order from Mahanadi Coalfields for Rail Connectivity

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.”

The successful conversion of warrants and subsequent capital infusion marks another significant step in SpiceJet’s ongoing turnaround strategy.

Read Also : NTPC Ltd accepts bid for Rs 5000 crore Rupee Term Loan of IRFC Ltd