No-frills carrier SpiceJet plans to raise funds through issuance of equity shares or debt instruments and the proposal will be discussed at its board meeting on June 30.
The proposal comes at a time when the airline industry is grappling with strong headwinds due to the coronavirus pandemic that has also resulted in less occupancy in many flights.
Earlier this month, InterGlobe Aviation, parent of the country's largest airline IndiGo, received shareholders' nod for raising up to Rs 3,000 crore.
In a regulatory filing late Sunday, SpiceJet informed that its board of directors will consider "options for raising fresh capital through issue of equity shares/debt instrument on preferential/qualified institutions placement basis," at the scheduled meeting on June 30 (Wednesday).
SpiceJet board would also consider the audited standalone and consolidated financial results for the financial year ended March 31, 2021.
