SpiceJet, a low-cost airline, will conduct a board meeting on July 23 to consider raising fresh capital through qualified institutional placement.
In an exchange filing, the company said, “A meeting of the Board of Directors of SpiceJet Limited (the “Company”) will be held on July 23, 2024 (Tuesday), inter-alia, to consider and approve raising fresh capital through issue of eligible securities to qualified institutional buyers by way of qualified institutional placement under the provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018 and any other methods including by way of further issue, in accordance with the relevant provisions of applicable laws and subject to approval of the shareholders of the Company and other applicable regulatory and contractual approvals, as may be required.”
SpiceJet, a low-cost airline, reported on July 15 that its net profit for the fourth quarter which ended on March 31, 2024, increased six times to Rs 119 crore. Its EBITDA increased to Rs 386 crore during April-June 2024, up from Rs 344 crore the previous year.
