Spicejet Ltd — Insider Trading, 01-01-1970: Insider Trading / SAST

SpiceJet has issued 10.42 crore new equity shares, representing a 6.86% stake, to a group of nine acquirers. This preferential allotment converts existing outstanding dues owed by SpiceJet to these entities into equity. This move helps reduce the airline's liabilities by settling debts through equity issuance. The newly issued shares are regular equity shares. This transaction impacts shareholders through dilution but also strengthens the company's balance sheet by transforming debt into capital.