SpiceJet to issue shares, settle $54m in lease obligations

SpiceJet Limited's board of directors, in a meeting on September 8, 2025, approved the issuance and allotment of shares to address aircraft lease obligations with two major entities and their affiliates.

The first approval involves the issuance of up to 104,172,634 equity shares with a face value of INR 10 each, at an issue price of Rs.42.32, to Carlyle Aviation Management Limited (CAML) and its affiliates. This transaction aggregates to $50,000,000 and will be conducted on a preferential basis, subject to customary conditions and regulatory approvals.

The second approval pertains to the issuance of up to 8,334,091 equity shares, also with a face value of INR 10 each and an issue price of Rs.42.32, to GASL Aviation Holdings Limited (GASL) and its affiliates. This allotment aggregates to $4,000,000 and is similarly on a preferential basis, contingent on customary conditions and regulatory approvals, including those from company members and SEBI. These strategic moves aim to restructure and settle existing lease obligations.

The share issuance to CAML's affiliates will result in a 6.83% total shareholding for the lessors, with individual entities like SASOF II (J) Aviation Ireland Limited receiving 1.62% and SASOF III (A6) Aviation Ireland DAC receiving 1.16%. These transactions are part of the company's broader financial restructuring initiatives.