Budget carrier SpiceJet raised Rs 1,060 crore through its preferential issue, with investors including Aries Opportunities Fund Ltd. and Elara India Opportunities Fund Ltd. The funding will help the airline induct fresh capacity, reduce liabilities, and lower the cost of capital.
ch-aviation.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ch-aviation.com Daily Mail and Mail on Sunday newspapers.
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In a strategic move to bolster SpiceJet s financial position and spur growth, Mumbai-based businessman Harihara Mahapatra and his wife Preeti have announced a substantial investment of Rs 1,100 crore in the airline. The acquisition secures the couple a 19 per cent stake in SpiceJet, as revealed in a stock exchange filing by the airline.