SpiceJet has received a fund infusion amounting to Rs 2.94 billion from its founder and promoter through a promoter group company Spice Healthcare Private Limited, by converting 131.4 million warrants to equity shares.
With this, the Promoter Group’s consolidated shareholding has risen to 33.47 per cent from around 29.11 per cent.
The move marks the completion of the support from the promoter amounting to a total of Rs 5 billion.
The infusion also marks a notable step in the airline’s turnaround strategy by supporting future expansions and strengthening financial stability.