Ajay Singh, the promoter of SpiceJet, is set to reduce his shareholding in the beleaguered airline by over 10% to raise approximately ₹3,000 crore. Despite the dilution, Singh will remain the largest shareholder, with his stake expected to fall to 30-35%. The airline aims to issue new shares to investors to bolster its capital base. SpiceJet, grappling with financial challenges and operational issues, hopes that the infusion of funds will help stabilize its operations and attract investors amid a robust demand for air travel in India. Ajay Singh, the promoter of SpiceJet, is set to reduce his shareholding in the beleaguered airline by over 10% to raise approximately ₹3,000 crore. Despite the dilution, Singh will remain the largest shareholder, with his stake expected to fall to 30-35%. The airline aims to issue new shares to investors to bolster its capital base. SpiceJet, grappling with financial challenges and operational issues, hopes that the infusion of funds will help stabilize its operations and attract investors amid a robust demand for air travel in India. Economic Times
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