SpiceJet in talks with investors for stake sale
According to its senior executive, SpiceJet is believed to be in talks with potential investors for a likely stake sale, reports Jagriti Chandra for The Hindu.
“There are discussions going on because we need to raise capital at this point of time. We are speaking to various stakeholders who have interest,” said the official.
The person, however, didn’t comment on the percentage of stake sale. “It is too early to say because it all depends on the valuation,” he said.
The person dismissed reports of a Gulf carrier and an Indian conglomerate being among those entities in talks with the airline as “speculative”.
“The company continues to be in discussions with various investors to secure sustainable financing and will make appropriate disclosures in accordance with applicable regulations,” the airline’s spokesperson said.
The airline is exploring multiple ways to raise funds and has engaged Ernst and Young for the job. SpiceJet also plans to hive off its cargo arm- SpiceXpress which was valued in August last year at INR 2,555.77 crore. (Source: The Hindu)