{"id":55583,"date":"2024-01-27T11:37:05","date_gmt":"2024-01-27T06:07:05","guid":{"rendered":"https:\/\/aviationa2z.com\/?p=55583"},"modified":"2024-02-14T19:46:58","modified_gmt":"2024-02-14T14:16:58","slug":"spicejet-gets-744-crore-eyes-new-routes-aircraft","status":"publish","type":"post","link":"https:\/\/aviationa2z.com\/index.php\/2024\/01\/27\/spicejet-gets-744-crore-eyes-new-routes-aircraft\/","title":{"rendered":"SpiceJet Gets 744 Crore Capital, Eyes New Routes and Aircraft"},"content":{"rendered":"\n<p><strong>GURGAON-<\/strong> On Friday (January 26), <a href=\"https:\/\/aviationa2z.com\/?s=SpiceJet\" target=\"_blank\" rel=\"noreferrer noopener\">SpiceJet (SG)<\/a> announced the successful raising of <strong>Rs 744 crore<\/strong> in the initial phase of its capital infusion through the preferential allotment of shares and warrants.<\/p>\n\n\n\n<p>During a meeting on January 25, the airline&#8217;s Board of Directors granted approval for the preferential allotment of 5.55 crore equity shares to 54 subscribers. Furthermore, the Board authorized the allotment of 9.33 crore warrants to Elara India Opportunities Fund Limited and Silver Stallion Limited. These warrants allow subscribers the option to apply for an equivalent number of equity shares.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/aviationa2z.com\/wp-content\/uploads\/2023\/07\/Copy-of-Emirates-Kenya-Airways-Partnership-37-1024x576.jpg\" alt=\"On Friday (January 26), SpiceJet (SG) announced the successful raising of Rs 744 crore in the initial phase of its capital infusion through the preferential allotment of shares and warrants.\" class=\"wp-image-38644\" srcset=\"https:\/\/aviationa2z.com\/wp-content\/uploads\/2023\/07\/Copy-of-Emirates-Kenya-Airways-Partnership-37-1024x576.jpg 1024w, https:\/\/aviationa2z.com\/wp-content\/uploads\/2023\/07\/Copy-of-Emirates-Kenya-Airways-Partnership-37-600x338.jpg 600w, https:\/\/aviationa2z.com\/wp-content\/uploads\/2023\/07\/Copy-of-Emirates-Kenya-Airways-Partnership-37-300x169.jpg 300w, https:\/\/aviationa2z.com\/wp-content\/uploads\/2023\/07\/Copy-of-Emirates-Kenya-Airways-Partnership-37-768x432.jpg 768w, https:\/\/aviationa2z.com\/wp-content\/uploads\/2023\/07\/Copy-of-Emirates-Kenya-Airways-Partnership-37-750x422.jpg 750w, https:\/\/aviationa2z.com\/wp-content\/uploads\/2023\/07\/Copy-of-Emirates-Kenya-Airways-Partnership-37-1140x641.jpg 1140w, https:\/\/aviationa2z.com\/wp-content\/uploads\/2023\/07\/Copy-of-Emirates-Kenya-Airways-Partnership-37.jpg 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Photo: Photo: avgeekwithlens\/ Harsh Tekriwal<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-spicejet-raises-744-crore-capital\">SpiceJet Raises 744 Crore Capital<\/h2>\n\n\n\n<p>SpiceJet is poised to complete another tranche of equity and warrants raise involving the remaining subscribers. However, the airline has sought additional time from the competent authority to finalize the process, citing limited banking days during the intervening period, as stated in an exchange filing and media release.<\/p>\n\n\n\n<p>Ajay Singh, Chairman and Managing Director of SpiceJet, expressed contentment with the successful completion of the initial tranche. He emphasized the confidence demonstrated by investors in SpiceJet&#8217;s potential for growth.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The capital infusion will pave the way for new opportunities for SpiceJet, leading to more efficient cash operations, an expanded fleet, and an extended network.&#8221;<\/p>\n<\/blockquote>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/aviationa2z.com\/wp-content\/uploads\/2024\/01\/8brmd3ot-1024x576.png\" alt=\"On Friday (January 26), SpiceJet (SG) announced the successful raising of Rs 744 crore in the initial phase of its capital infusion through the preferential allotment of shares and warrants.\" class=\"wp-image-55586\" srcset=\"https:\/\/aviationa2z.com\/wp-content\/uploads\/2024\/01\/8brmd3ot-1024x576.png 1024w, https:\/\/aviationa2z.com\/wp-content\/uploads\/2024\/01\/8brmd3ot-300x169.png 300w, https:\/\/aviationa2z.com\/wp-content\/uploads\/2024\/01\/8brmd3ot-768x432.png 768w, https:\/\/aviationa2z.com\/wp-content\/uploads\/2024\/01\/8brmd3ot-1600x900.png 1600w, https:\/\/aviationa2z.com\/wp-content\/uploads\/2024\/01\/8brmd3ot-1536x864.png 1536w, https:\/\/aviationa2z.com\/wp-content\/uploads\/2024\/01\/8brmd3ot-2048x1152.png 2048w, https:\/\/aviationa2z.com\/wp-content\/uploads\/2024\/01\/8brmd3ot-750x422.png 750w, https:\/\/aviationa2z.com\/wp-content\/uploads\/2024\/01\/8brmd3ot-1140x641.png 1140w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Photo: avgeekwithlens\/ Harsh Tekriwal<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-legal-issues-with-lessors\">Legal Issues with Lessors<\/h2>\n\n\n\n<p>The Indian LCC has been grappling with financial constraints, entangled in numerous legal disputes over unpaid dues involving both former promoters and aircraft lessors. <\/p>\n\n\n\n<p>Operating only a fraction of its fleet currently, the financially strained airline faces consistent one-time performance issues, resulting in nearly 40-45 percent of flight delays on a daily basis.<\/p>\n\n\n\n<p>In the preceding month, the airline&#8217;s board approved a plan to raise Rs 2,250 crore by issuing up to 130 million convertible warrants and 320.8 million fresh equity shares at an issue price of Rs 50 each.<\/p>\n\n\n\n<p>In the quarter concluding in September 2023, the airline reduced its net loss to Rs 431.54 crore from Rs 837.8 crore a year prior. The Gurugram-based airline reported a net profit of Rs 197.53 crore for the April-June period.<\/p>\n\n\n\n<p>As of December 2023, SpiceJet&#8217;s market capitalization was recorded at Rs 4,000 crore. The promoters, led by Singh, held a 56.5 percent stake in the company, with 37.9 percent of it pledged with various lenders.<\/p>\n\n\n\n<p>Stay tuned with us. Further, follow us on social media for the latest updates.<\/p>\n\n\n\n<p>Join us on&nbsp;<a href=\"https:\/\/t.me\/s\/aviationa2z\" rel=\"nofollow\">Telegram Group&nbsp;<\/a>for the Latest Aviation Updates. Subsequently, follow us on&nbsp;<a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMPLdrgsw_-jGAw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\">Google News<\/a>.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-aviation-a-2-z wp-block-embed-aviation-a-2-z\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"WanekYe21R\"><a href=\"https:\/\/aviationa2z.com\/index.php\/2024\/02\/14\/spicejet-in-strong-financial-position\/\">SpiceJet Says All is Well and In Strong Financial Position<\/a><\/blockquote><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;SpiceJet Says All is Well and In Strong Financial Position&#8221; &#8212; Aviation A2Z\" src=\"https:\/\/aviationa2z.com\/index.php\/2024\/02\/14\/spicejet-in-strong-financial-position\/embed\/#?secret=JlfHJHQI6B#?secret=WanekYe21R\" data-secret=\"WanekYe21R\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>On Friday (January 26), SpiceJet (SG) announced the successful raising of Rs 744 crore in the initial phase of its capital infusion through the preferential allotment of shares and warrants.<\/p>\n","protected":false},"author":2,"featured_media":55585,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[7215,6761,8474],"tags":[4804,446,17292,17293,16714,3389,17291,17290],"class_list":{"0":"post-55583","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-airline-news","8":"category-news","9":"category-spicejet","10":"tag-cash-hit-spicejet","11":"tag-spicejet","12":"tag-spicejet-infuses-new-funds","13":"tag-spicejet-legal-battles","14":"tag-spicejet-new-flights","15":"tag-spicejet-news","16":"tag-spicejet-raises-744-crore","17":"tag-spicejet-raises-744-crore-capital"},"_links":{"self":[{"href":"https:\/\/aviationa2z.com\/index.php\/wp-json\/wp\/v2\/posts\/55583","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aviationa2z.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/aviationa2z.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/aviationa2z.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/aviationa2z.com\/index.php\/wp-json\/wp\/v2\/comments?post=55583"}],"version-history":[{"count":2,"href":"https:\/\/aviationa2z.com\/index.php\/wp-json\/wp\/v2\/posts\/55583\/revisions"}],"predecessor-version":[{"id":56797,"href":"https:\/\/aviationa2z.com\/index.php\/wp-json\/wp\/v2\/posts\/55583\/revisions\/56797"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/aviationa2z.com\/index.php\/wp-json\/wp\/v2\/media\/55585"}],"wp:attachment":[{"href":"https:\/\/aviationa2z.com\/index.php\/wp-json\/wp\/v2\/media?parent=55583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aviationa2z.com\/index.php\/wp-json\/wp\/v2\/categories?post=55583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aviationa2z.com\/index.php\/wp-json\/wp\/v2\/tags?post=55583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}