SpiceJet promoter Ajay Singh rules out diluting stake to raise money

Says cash flow enough to handle expenditure of litigation and bulk aircraft order

Ajay Singh, promoter of domestic airline SpiceJet, is unlikely to dilute his stake in the company as he believes there's no immediate requirement of cash despite a possibility of cost overrun due to a pending legal case and payment for bulk aircraft purchases.
 
“The company’s cash flow is sufficient to run the business and handle other liabilities. There is no plan to dilute stake or bring in a strategic investor at this point of time,” Singh told Business Standard in an interview.
 
SpiceJet, which reported 18 per cent growth in profit in the first quarter of FY18, has