SpiceJet Board Approves Rs 3,000 Crore Fundraising
SpiceJet's board has approved a plan to raise Rs 3,000 crore through the issuance of securities. The airline, currently facing financial challenges, previously raised significant funds through various means, including preferential share issues. The move aims to bolster its financial stability.
SpiceJet's board has given the green light to raise Rs 3,000 crore through the issuance of securities.
The airline, which has been navigating significant financial hurdles, seeks to secure additional funding. Earlier, it reported a standalone profit of Rs 119 crore for the quarter ending in March.
A regulatory filing confirms that SpiceJet will issue equity shares or other qualified securities to institutional investors through a qualified institutional placement.
(With inputs from agencies.)
Advertisement
ALSO READ
Domestic financial system exhibiting resilience fortified by healthy balance sheets of banks, non-banks: Financial Stability Report by RBI.
NBFCs remain healthy with sizeable capital buffers, robust earnings, and improving asset quality, says June Financial Stability Report by RBI.
Financial stability, like price stability, is a necessary condition, and not a sufficient one to boost India's potential growth: RBI Guv.
HOAC FOODS INDIA LIMITED Raises ₹1,000.00 Lakhs in Qualified Institutional Placement (QIP)
Google News