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SpiceJet to get partial relief from Sebi after debt recast deal with lessor

Airline won't have to appoint independent valuer but Carlyle will need to follow six-month lock-in

SpiceJet
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Earlier, SpiceJet had entered into settlements with other lessors such as Avolon and Goshawk

Khushboo Tiwari Mumbai

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Beleaguered airline SpiceJet may get partial relief from the Securities and Exchange Board of India (Sebi) for a preferential allotment to the aircraft lessor Carlyle Aero Group.

In an informal guidance letter dated May 23, the markets regulator has said that the rules around appointing an independent valuer under the Issue of Capital and Disclosure Requirements (ICDR) will not be applicable on the allotment to Carlyle.

However, the aircraft lessor will have to observe a six-month lock-in period on the proposed issuance of equity shares under the Regulation 167(2) of ICDR norms.

SpiceJet has an outstanding liability of paying rent

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First Published: May 24 2023 | 4:07 PM IST

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