GulfHindi English Desk: SpiceJet, the local commercial airline company, has recently received a financial infusion of 500 crore rupees from its founder, Ajay Singh. This step was necessary to strengthen the financial position of the airline, especially when the transportation sector is facing several challenges.
SpiceJet plans to utilize the fresh equity investment to avail an emergency loan facility guarantee scheme (ECLGS) for an additional loan facility of 206 crore rupees.
Ajay Singh, the founder and managing director of SpiceJet, stated, “The future of SpiceJet is bright, and I am committed to helping it achieve its full potential.”
Following the news of the financial infusion, the share price of SpiceJet saw a surge. At the end of the trading day, the share price was 31.16 rupees, showing a 4.39% increase compared to the previous day. During the trading session, the surge remained over 5%.
Important Information:
👉Company: SpiceJet
👉Founder: Ajay Singh
👉Financial Infusion: 500 crore rupees
👉Loan Facility under ECLGS: 206 crore rupees
👉Share Price (End of Trading Day): 31.16 rupees
👉Share Price Increase: 4.39% (End of Trading Day)
en.gulfhindi.com News Summary
👉SpiceJet received a funding of 500 crore rupees from its founder Ajay Singh to strengthen its financial position.
👉The airline plans to use the fresh equity investment to avail an additional loan facility of 206 crore rupees under the Emergency Credit Line Guarantee Scheme (ECLGS).
👉Ajay Singh, the founder and managing director of SpiceJet, expressed his commitment to help the airline achieve its full potential.
👉Following the news of the funding, SpiceJet’s share price witnessed an increase, closing at 31.16 rupees, showing a growth of 4.39% compared to the previous day.
👉Important information:
👉Company: SpiceJet
👉Founder: Ajay Singh
👉Funding: 500 crore rupees
👉Loan facility under ECLGS: 206 crore rupees
👉Share price (at the end of trading): 31.16 rupees
👉Share growth: 4.39% (by the end of trading)
You are reading Mid-East Award Winning news outlet GulfHindi
