Fund infusion is against the balance amounts payable for conversion of 13.14 cr warrants issued in December 2023.
- Warrants were issued @ Rs 50/ share. Current market price is Rs 46/ share.
- 75% of the warrant price would be balance payable as per regulatory requirement i.e., ~ Rs 493 cr
- Ajay Singh, through M/s Spice Healthcare Private Limited will infuse Rs 294.09 Cr against these dues
- He is also disposing upto 3.15 Cr equity shares (current value of Rs 145 cr) and utilize the proceeds to enable Spice Healthcare to fund the balance.
Post these transactions, the promoter group stake in Spicejet is expected to increase from 29% currently to around 33%.