SpiceJet plans to raise funds, to be discussed at board meeting on June 30

The proposal comes at a time when the airline industry is struggling because of the COVID-19 pandemic and has also resulted in less occupancy in many flights.

SpiceJet plans to boost funds through issuance of equity shares or debt instruments and therefore the proposal are going to be discussed at its board meeting on June 30.

A press release on Tuesday said that, the drive will get down on field from Delhi and Gurugram, which are the headquarters of SpiceJet, and will cover the airline’s employees across all the stations on its network. The total number of employees working at SpiceJet is around 15,000.

The proposal comes at a time when the airline industry is struggling with strong headwinds due to the coronavirus pandemic that has also resulted in less occupancy in many flights.

Earlier this month, InterGlobe Aviation, parent of the country’s largest airline IndiGo, received shareholders’ nod for raising up to Rs 3,000 crore.

In a regulatory filing late Sunday, SpiceJet informed that its board of directors will consider “options for raising fresh capital through issue of equity shares/debt instrument on preferential/qualified institutions placement basis,” at the scheduled meeting on June 30 2021.

SpiceJet board has said that it  would also consider the audited standalone and consolidated financial results for the financial year ended March 31, 2021.

The shares of the company was gained over 2 percent close to Rs.79.65 on the BSE on Monday

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