Spicejet: SpiceJet will raise Rs 2250 crore through equity shares, the company's board approved

SpiceJet on Tuesday said it will raise fresh capital of Rs 2,250 crore by issuing equity shares. The board of directors of the airline has approved the issue of equity shares and equity warrants on a private placement basis.

Troubled airline SpiceJet on Tuesday said it will raise fresh capital of Rs 2,250 crore by issuing equity shares. The board of directors of the airline has approved the issue of equity shares and equity warrants on a private placement basis.

The airline said in a filing to the stock exchanges that the proposed capital investment will enhance product presence and market reach as well as provide a deep financial foundation. Let us tell you that in the quarter ending September, the airline incurred a net loss of Rs 428 crore. A year ago, in the same quarter, the company had suffered a net loss of Rs 835 crore.

(PC: ANI)