SRAM & MRAM group to invest $100 million in SpiceXpress

India’s SpiceJet Limited announced the investment of $100 million by the UK-based SRAM & MRAM Group in its cargo division SpiceXpress, sending the shares of the budget airline up by as much as 4.8 per cent. The investment comes days after SpiceJet dismissed rumours of filing for bankruptcy in the aftermath of competitor Go First’s insolvency.