Over 1.71 cr pledged shares of SpiceJet released

Low cost carrier SpiceJet today said that more than 1.71 crore shares pledged by one of its promoter, Kal Airways, have been released.

Kal Airways, one of the two promoter entities of the carrier, held 15.65 crore or 32.32 per cent stake in SpiceJet as of September quarter.

In a disclosure to the BSE, Spicejet said that over 1.71 crore equity shares of the company, pledged by Kal Airways have been released.

Meanwhile, the company's shareholders last week approved proposals to raise Rs 145 crore through issue of debentures and warrants, on preferential basis, to its promoter Kalanithi Maran.

About Rs 130 crore would be raised through issue of 14 per cent unsecured compulsorily convertible debentures. Further, by way of allotting warrants with an option to apply for equity shares, the carrier would mop up Rs 15 crore.

In November, the board had approved issuance of convertible debenture and/or warrants convertible into up to a maximum of 52.177 million equity shares to the promoter of the company on preferential basis.

SpiceJet operates over 300 daily flights.

Shares of the company fell 1.46 per cent to close at Rs 44 on the BSE.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • India must follow China on its path to the future

    There are many theories, real and imagined, doing the rounds in the national and international media about Barack Obama’s overtures to ‘rebalance

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Will the adventurous UGC succeed?

The impact of the Modi government on the education sector ...

Zehra Naqvi

The urge to tell stories

One wants to tell a story, like Scheherzade, in order ...

Dharmendra Khandal

Don’t interfere with nature

Just before we celebrated the news of tiger numbers swelling, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture