The Marans have announced that they will be pumping in roughly Rs 200 crore using the convertible warrants instrument. The company said that it needs capital for expansion and is looking at equity from its shareholders and also raise debt.
SpiceJet said it would issue convertible warrants to its promoter, which could fetch the budget airline nearly Rs 200 crore at the current price.
The convertible debenture and or warrants could be converted to as many as 5.22 crore equity shares, SpiceJet said in a regulatory filing.
These shares would be worth nearly Rs 200 crore at today's closing price of Rs 37.40 per piece on the BSE, although the conversion price has not been disclosed.
SpiceJet's board, at their meeting today, 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...," the filing said.
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