SpiceJet Receives In-Principle Approval From BSE For Rs 2,242 Crore Capital Infusion

No-frills carrier SpiceJet on Monday said it has received in-principle approval from the BSE for a Rs 2,242 crore capital infusion in the airline.

The Gurugram-based airline also said that a significant portion of the fund infusion will be utilised to fuel the airline's growth, among others.

SpiceJet has received in-principle approval from the BSE for the issuance of equity shares and warrants convertible into equity shares on a preferential basis, the airline said in a statement.

This approval paves the way for a new fund infusion of Rs 2,242 crore in the airline, it said.

A significant portion of the fund infusion will be utilised to fuel the airline's growth, expand its network and bring grounded planes back into operations, SpiceJet said.

'We believe the fund infusion will open new avenues for SpiceJet, enabling us to capitalise on potential opportunities and contribute to the growth of the aviation sector in India,' said Ajay Singh, Chairman and Managing Director of SpiceJet.