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The airline's Preferential Allotment Committee, in a meeting held on February 21, 2024, greenlit the allocation of 4.01 crore equity shares to two investors, including Aries Opportunities Fund Limited.
The infusion of fresh capital will prove to be a substantial strength in the financial position of the company and is a powerful vote of confidence in the future and long-term visibility, the company said.
SpiceJet said that the company’s business services remained majorly affected due to the second wave of COVID-19, which negatively affected the travel rush during the quarter ended September 2021.
The formal statement is likely to arrive in the coming days. This is a breakthrough in the government's privatisation initiative and will give back Air India to its owners after nationalising it in 1953.
India wins a historic six gold medals alongside nine silver medals and five bronze medals to end their campaign on a positive note.
For the Air India bid, around $1 billion war chest is being arranged by the SpiceJet promoter Ajay Singh.
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