SpiceJet on Thursday mentioned its shareholders have authorized the proposal to boost as much as Rs 3,000 crore by issuance of securities. The no-frills provider — which is grappling with a number of woes, together with monetary challenges, authorized battles and grounding of plane — is seeking to elevate cash that may assist it meet varied obligations.
In a regulatory submitting on Friday, the airline mentioned shareholders have given their nod for the particular decision for elevating funds of as much as Rs 3,000 crore.
The funds are proposed to be raised by Certified Institutional Placement (QIP) and different choices.
SpiceJet, which had a fleet of 74 planes in 2019, is at the moment working round 20 plane.
Shares of the airline rose 8 per cent to shut at Rs 71.66 on the BSE.
