SpiceJet board meet on Dec 11 to consider fundraising on preferential basis

Mumbai: No-frills carrier SpiceJet on Thursday said its board of directors will meet on December 11, to consider various options to raise fresh funds on preferential basis.

The announcement comes amid reports that SpiceJet promoter Ajay Singh was in discussions with a bunch of global private credit funds to raise up to USD 100-million.

"… The board of directors of the company in its meeting scheduled on December 11, 2023 will discuss and consider, inter-alia, options for raising fresh capital through issue of equity shares and/or convertible securities on preferential basis …," SpiceJet said in a regulatory filing.

It also said that the proposals considered will be subjected to "approval of the shareholders of the company and receipt of applicable regulatory approvals."