{"id":91431,"date":"2023-02-21T15:21:00","date_gmt":"2023-02-21T09:51:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=91431"},"modified":"2023-02-21T15:18:52","modified_gmt":"2023-02-21T09:48:52","slug":"biz-spicejet-2","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-spicejet-2\/","title":{"rendered":"SpiceJet board to consider fund raising options on Feb 24"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1707081045\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>SpiceJet on Tuesday said its board will meet on Friday to consider options to raise funds as well as to convert certain outstanding liabilities into equity shares of the company.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-372603955\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The no-frills airline, which has been grappling with multiple headwinds, including legal woes, is looking to raise fresh capital through issuance of eligible securities to qualified institutional buyers.<\/p><p>Besides, the carrier plans to issue equity shares on preferential basis consequent upon conversion of outstanding liabilities into equity shares of the company, subject to applicable regulatory approvals, according to a filing to the BSE.<\/p><p>Both plans will be taken up by the board of directors during its meeting scheduled for February 24.<\/p><div class=\"trade-content_5\" id=\"trade-2076418896\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Specific details about the proposals could not be immediately ascertained.<\/p><p>In December last year, SpiceJet Chairman and Managing Director Ajay Singh told shareholders that the company is engaged with investment bankers to raise up to USD 200 million in order to achieve its future plans.<\/p><p>He had also said the increase in the Emergency Credit Line Guarantee Scheme (ECLGS) to Rs 1,500 crore will go a long way in providing the much-needed stability to the sector.<\/p><p>&#8220;The infusion of additional funds will help SpiceJet normalise its obligations, unground its fleet and induct new planes into our fleet&#8230; we have also completed a series of settlements with most of our major partners including manufacturers and lessors setting the stage for our seamless growth and expansion,&#8221; he had said.<\/p><p>On Tuesday, shares of the airline declined nearly 2 per cent to Rs 37.60 apiece in the afternoon trade on the BSE. PTI RAM SHW SHW<\/p><div class=\"trade-after-content\" id=\"trade-3828915507\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>SpiceJet on Tuesday said its board will meet on Friday to consider options to raise funds as well as to convert certain outstanding liabilities into equity shares of the company. The no-frills airline, which has been grappling with multiple headwinds, including legal woes, is looking to raise fresh capital through issuance of eligible securities to [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":23844,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-91431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SpiceJet board to consider fund raising options on Feb 24 - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"SpiceJet on Tuesday said its board will meet on Friday to consider options to raise funds as well as to convert certain outstanding liabilities into equity shares of the company.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/?p=91431\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SpiceJet board to consider fund raising options on Feb 24\" \/>\n<meta property=\"og:description\" content=\"SpiceJet on Tuesday said its board will meet on Friday to consider options to raise funds as well as to convert certain outstanding liabilities into equity shares of the company.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/?p=91431\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-21T09:51:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/Spice-jet-1-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/Spice-jet-1-Cover-Image.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/?p=91431\",\"url\":\"https:\/\/tradebrains.in\/features\/?p=91431\",\"name\":\"SpiceJet board to consider fund raising options on Feb 24 - 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