SpiceJet’s Founder and Promoter, Ajay Singh, is set to invest an additional INR 294.09 crore in the airline through his Promoter Group Company, Spice Healthcare Private Limited. This investment will be made by converting 13.14 crore warrants into equity shares, increasing the Promoter Group’s stake from 29.11% to 33.47%. The move is expected to enhance the airline’s financial position and demonstrate Singh’s confidence in its long-term potential.
Following the announcement, SpiceJet’s stock surged 6.4% to INR 48.40 on the BSE. Singh reaffirmed the airline’s resilience and highlighted that the fresh capital infusion would help strengthen operations and unlock new growth opportunities. The funds raised from the share sale will be utilised to meet the remaining 75% of the equity allotment cost, further stabilising the company’s financial health.
A meeting of SpiceJet’s Board or Board Committee is scheduled on or before March 18, 2025, to approve the allotment of equity shares. This step is a key part of the airline’s financial restructuring strategy aimed at securing long-term stability. The conversion of warrants into equity is expected to provide greater financial flexibility and strengthen investor confidence.
With this latest investment, Singh and the Promoter Group reaffirm their commitment to SpiceJet’s future. By increasing their stake, they signal a strong belief in the airline’s recovery and growth trajectory. As the industry continues to evolve, this financial boost could position SpiceJet favorably in the competitive aviation market.