Ajay Singh

Delhi HC dismisses KAL Airways, Maran's ₹1,300 crore claim against SpiceJet

Kalanithi Maran and KAL Airways sought ₹1,300 crore in damages, claiming SpiceJet failed to issue securities despite receiving ₹679 crore as part of a share transfer agreement

SpiceJet shares extend rally, up 10% in 2 days; here's what's driving stock

The buying interest in the stock sparked after promoter Ajay Singh through a bulk deal on BSE, sold 20 million shares for Rs 45 per share

CMD Ajay Singh to infuse Rs 294 cr in airline via another entity: SpiceJet

SpiceJet on Monday said its founder Ajay Singh will infuse Rs 294 crore into the airline through a promoter group entity by way of conversion of warrants into equity shares, following which promoter group's shareholding will increase to over 33 per cent. Singh, also the Chairman and Managing Director of the carrier, will be infusing the funds through Spice Healthcare Pvt Ltd, a promoter group company. In a release on Monday, SpiceJet said Singh will infuse Rs 294.09 crore into the company through the conversion of 13,14,08,514 warrants into an equivalent number of equity shares (13.14 crore equity shares). "This strategic move will increase the consolidated shareholding of the promoter group in SpiceJet from the current 29.11 per cent to 33.47 per cent," the release said. Besides, Singh is selling up to 3.15 crore equity shares of the airline and the proceeds will be utilised to enable Spice Healthcare Pvt Ltd to partially fund the balance of 75 per cent of the amount at the time o

SpiceJet Promoter Ajay Singh to dilute over 10% stake to raise Rs 3,000 cr

After the fundraising, Ajay Singh's shareholding in SpiceJet may drop to 30-35% from 47.8%

Lessors reject SpiceJet CMD Ajay Singh's pledge of shares to pay dues

Citing the depreciation of their assets, the lessors sought the grounding of the airline and the return of the engines

SpiceJet aims to raise $250 mn in coming months, says CEO Ajay Singh

SpiceJet Chief Ajay Singh on Wednesday said the airline will be raising around USD 250 million in the next couple of months as the budget carrier works on boosting its operations. The airline is tackling multiple headwinds, including lessor and debt woes, with Singh saying the carrier has faced "significant black swan events". "It is difficult to kill SpiceJet....and we are trying to fix the problems," he said and asserted that the airline's balance sheet will be cleaned up over the next two quarters. Recently, the airline raised USD 150 million and is looking for more funds. The airline plans to raise USD 250 million in the next couple of months and there is a bright enough future, Singh said at the CAPA India Aviation Summit in the national capital. Currently, the carrier has wet leased some aircraft as many of its planes are grounded due to various reasons. "We will grow our own fleet," Singh, the Chairman and Managing Director of the airline, said. Singh also said it is crit

Kalanithi Maran seeks Rs 1,323 cr in damages, SpiceJet refutes claims

KAL Airways and its promoter Kalanithi Maran have decide to challenge an arbitral award requiring SpiceJet and Ajay Singh to refund Rs 579 crore plus interest to Maran

SpiceJet resolves Rs 413 cr dispute with Echelon Ireland Madison One

Cash-strapped SpiceJet has resolved its third settlement in 2 weeks with Echelon Ireland Madison One, after Cross Ocean Partners and Celestial Aviation

SpiceJet raises second tranche of Rs 316 crore under preferential issue

On January 26, the first tranche of Rs 744 crore was infused into the airline. On January 11, the beleaguered airline's shareholders gave their approval to raise a total of Rs 2,241.5 crore

SpiceJet promoter Ajay Singh, Busy Bee Airways bid for bankrupt Go First

SpiceJet announced that it would act as the operating partner for the new airline, providing staff and services

SpiceJet promoter Ajay Singh looking to raise $100 mn through credit funds

Ajay Singh is reportedly in discussions with global private credit funds to refinance part of promoter debt and equity infusion

'We are struggling to stay afloat', SpiceJet tells Delhi High Court

Singh had sought to set aside a portion of the award, which directed the airline to refund Rs 270 crore to Kal Airways and Maran

These 2 factors dragged SpiceJet 11% lower today after surging 19% Friday

SpiceJet stock news: The stock of SpiceJet had soared 19.4 per cent last Friday, October 13, after a report had said that Gangwal was looking to buy stake in the airline

SC allows SpiceJet to pay Credit Suisse in instalments over 6 months

After six months of payments, SpiceJet's Ajay Singh has to pay regular instalments of $500,000 to Credit Suisse

SpiceJet clears $1.5 million payment due to Credit Suisse after SC warning

On September 12, the apex court asked Singh to pay $500,000 towards an instalment to the Swiss firm along with a $1 million defaulted amount

Placed under enhanced surveillance, SpiceJet to get Rs 500 cr from promoter

Singh and his family own 46.95 per cent stake in the airline as on March 31, 2023

Delhi HC orders SpiceJet to pay Rs 380 crore to Sun Group's Kalanithi Maran

The court's ruling which came out on Monday stemmed from a long-running battle between the Maran family and the current promoter, Ajay Singh, and SpiceJet, over contractual obligations

Go First insolvency will impact investor confidence: SpiceJet's Ajay Singh

'The factors behind the Go First crisis were beyond its control'

SpiceJet restructuring balance sheet; to push for fleet expansion: CEO

SpiceJet chief Ajay Singh on Monday said the airline is significantly restructuring its balance sheet and will aggressively push for fleet expansion. The airline will also be having a significant number of dedicated cargo aircraft, he said, adding that the cargo business has helped the airline pay off its liabilities. Last month, the airline announced that Carlyle Aviation Partners will acquire a 7.5 per cent stake in the airline by converting outstanding dues as well as snap up shareholding in the cargo business. Besides, it is set to tap the Qualified Institutional Buyer (QIB) route to raise up to Rs 2,500 crore. Amid the budget carrier facing multiple headwinds, he also said that a measure of desperation is always good for an organisation... we will emerge stronger". "It is in our (SpiceJet) DNA. We just refuse to die," Singh said at a session at CAPA India aviation summit here. The airline is significantly restructuring the balance sheet and will be raising fresh capital. The

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