Spicejet gets US$ 100 Million infusion in the Company

Spicejet Ltd has announced that the Company, its shareholders RHSL, Istithmar and Ajay Singh and Goldman Sachs, in its capacity as a bondholder of the Company, on August 11, 2008 have entered into definitive agreements with WL Ross & Co. LLC. This will result in infusion of approximately US$ 100 Million in the Company for its business requirements.
Furthermore, Goldman Sachs has agreed to subscribe to equity warrants of the Company under the preferential issue guidelines of SEBI subject to receipt of requisite approvals.
The stock was trading at Rs.30.65, up by Rs.2 or 6.98%. The stock hit an intraday high of Rs.31.40 and low of Rs.29.20.
10/08/08 Equity Bulls

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Categories: Foreign Aug 2008, SpiceJet Aug 2008