SpiceJet, the budget airline has issued shares worth Rs 231 crore to atleast 9 aircraft lessors, to whom the airline owed money. The airline obtained various approvals during the recently concluded shareholders’ meeting.
SpiceJet issues shares to lessors
The Indian Low Cost Carrier has on a preferential basis issued 4.81 crore equity shares to 9 aircraft lessors. The airline has cleared dues worth Rs 231 crore by this share allotment. The pricing for all these shares stood at Rs 48 per share. In the shareholders meeting, the airline has also got an approval for fundraising worth Rs 2,500 crore. Lets first have a look at the nine aircraft lessors, who got freedom from the airline.
- SASOF III (A13) Aviation Ireland DAC
- SASOF III (A6) Aviation Ireland DAC
- SASOF III (C) Aviation Ireland DAC
- SASOF III (E) Aviation Ireland DAC
- SASOF III (A19) Aviation Ireland DAC
- SASOF II (J) Aviation Ireland DAC
- Citrine Aircraft Leasing Ltd
- Fly Aircraft Holdings Limited
- Fly Aircraft Holdings One Limited
Moreover, the parent company has also alloted some shares to a health hospitality entity. Spice Health Care Private Limited received an allotment of 3.41 crore equity shares and 13.15 crore warrants, which were issued at a price of Rs 29.84 per unit.
Battle in Delhi High Court
The airline is fighting with its former promoter Kalanithi Maran in Delhi High Court. In which, it seems that the airline is losing. By September 10, Delhi High Court has given a deadline to SpiceJet to pay Rs 100 crore to Maran otherwise the court will consider asset ceasing from the airline to recover dues.
In Delhi High Court, the airline earlier said that it is struggling to stay afloat and offered to pay just Rs 75 crore to the former promoter. Kalanithi Maran recently filed a caveat in Supreme Court regarding this order from Delhi High Court.
Source : Livemint