Carlyle to acquire 5.91% stake in SpiceJet at Rs 48 per share

Posted on:
Key Points

SpiceJet has sought shareholder approval to issue 5.91% stake in the low-cost airline to Carlyle Aviation Partners--the aircraft financing unit of global private equity giant Carlyle Group..

The lessors have valued the airlines share at Rs 48 per equity share..

An equivalent equity infusion by promoters of companies was made mandatory for airlines to take full benefit of the scheme which is capped at 100% of the company's fund based or non-fund-based loan or Rs 1,500 crore, whichever is lower..

The transaction will substantially deleverage our balance sheet thereby allowing us to access fresh funds at a competitive rate and we aim to follow suit with other lessors as well in the near term, Ajay Singh, Chairman and Managing Director, SpiceJet said.. (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)..

You might be interested in

Carlyle Aviation Partners expresses interest in SpiceJet: Report

09, Jan, 24

Earlier, in mid 2023, the airline had sought shareholder approval to issue 5.91% stake in the low-cost airline to Carlyle Aviation Partners--the aircraft financing unit of global private equity giant Carlyle Group.

Lessor Carlyle to buy 5.9% stake in SpiceJet at 55% premium over current market price

02, Aug, 23

India Business News: Budget carrier SpiceJet has sought shareholders’ nod to issue 5.91% stake to Carlyle Aviation Partners at Rs 48 per share — against Wednesday afternoo

SpiceJet debt recast: Carlyle Aviation to pick up 7.5% stake in airline

27, Feb, 23

SpiceXpress the cargo business to be hived off into separate unit

Revival of bankrupt Go First airline will 'Spice' up India's aviation

16, Feb, 24

Go First receives bid from Ajay Singh and Busy Bee Airways, blaming Pratt & Whitney for revenue losses. SpiceJet plans to partner with Go First, despite its own financial struggles. Market share consolidation in the aviation sector raises concerns about competition and service quality.

SpiceJet promoter Ajay Singh to infuse Rs 500 crore into the airline

12, Jul, 23

With this fund infusion by the promoter, SpiceJet would be entitled to additional credit facilities of Rs 206 crore under the emergency credit line guarantee scheme (ECLGS).

Why Ajay Singh of troubled SpiceJet seeks redemption in bankrupt Go First

20, Feb, 24

Ajay Singh, known for turning around airlines, has bid for the bankrupt Go First airline. However, his own airline, SpiceJet, is also facing financial challenges. Turning around Go First will be a difficult task, but restarting the airline quickly is the best hope for its success.

SpiceJet promoter Ajay Singh on how the Rs 2,254 crore lifeline will help the airline expand capacity

12, Dec, 23

Investment will help the airline to induct fresh capacity and reduce liabilities, thereby reducing cost of capital, said SpiceJet promoter Ajay Singh.

SpiceJet Promoter Ajay Singh to invest ₹500 Crore, boosting airline's finances

12, Jul, 23

SpiceJet promoter Ajay Singh will invest ₹500 crore into the airline to boost its financial position, enabling it to access additional credit facilities.

Carlyle Aviation converts SpiceJet’s dues into 7.5% stake

28, Feb, 23

Carlyle also acquired compulsorily convertible debentures in SpiceXpress, the airline’s cargo arm.

IndiGo co-founder Rakesh Gangwal may buy "sizeable" stake in SpiceJet: Report

13, Oct, 23

India Business News: SpiceJet news: Following reports of Rakesh Gangwal's potential stake acquisition, SpiceJet's stock surged, surging as high as 20% before closing the d