SpiceJet to raise Rs2,250 crore through equity shares

New Delhi: Crisis-hit SpiceJet Tuesday said it will raise fresh capital of Rs2,250 crore through issuance of equity shares.

The airline’s board has approved the issuance of equity shares/ equity warrants under a private placement basis.

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The proposed fund infusion will go a long way in enhancing product presence and market reach as well as provide a deep financial foundation, the airline said in a filing.

For the quarter ended September, the airline posted a net loss of Rs428 crore.

In the year-ago period, the net loss stood at Rs835 crore.

PTI