Spicejet restructures it’s Balance Sheet by transferring part of business to a subsidiary
SpiceJet confirmed to have received shareholders’ approval to transfer its cargo and logistics services business to its subsidiary, SpiceXpress and Logistics Private Ltd. (SLP), on a slump-sale basis, for Rs 2,555.77 crore. Key points to note – Transfer of business is to a wholly owned subsidiary without any cash consideration. SLP will issues shares to … Read more