SpiceJet to raise equity

The board of SpiceJet has approved to raise fresh capital amounting to more than Rs 22.5 billion through the issue of equity shares to financial institutions and foreign institutional investors, high net worth individuals and private investors. The equity shares will be issued on a private placement basis, subject to shareholder and regulatory approvals as may be required. The capital raised will be used to fund operational ex­pansion initiatives such as fleet enhancement, route network expansion and technological advancements.