Description

SpiceJet Limited to list 13,14,08,514 preferential equity shares on BSE from December 26, 2025, issued through warrant conversion with lock-in until December 31, 2027.

Summary

BSE has announced the listing of 13,14,08,514 new equity shares of SpiceJet Limited (Scrip Code: 500285) effective December 26, 2025. These shares were issued to promoters on a preferential basis pursuant to warrant conversion at an issue price of Rs. 29.84 per share (Rs. 10 face value + Rs. 19.84 premium). The entire allotment is subject to lock-in until December 31, 2027.

Key Points

  • Total shares listed: 13,14,08,514 equity shares of Rs. 10/- each
  • Issue price: Rs. 29.84 per share (face value Rs. 10 + premium Rs. 19.84)
  • Allotment basis: Preferential allotment to promoters through warrant conversion
  • Trading commencement date: December 26, 2025
  • ISIN: INE285B01017
  • Shares rank pari-passu with existing equity shares
  • Allotment completed in two tranches: March 18 and March 19, 2025

Regulatory Changes

No regulatory changes introduced. This is a standard listing notification for preferential allotment under existing SEBI regulations.

Compliance Requirements

  • Trading members must note the listing of new securities for trading from December 26, 2025
  • All 13,14,08,514 shares are subject to mandatory lock-in restrictions
  • Lock-in period compliance must be maintained by the allottees (promoters)

Important Dates

  • Allotment Date (Tranche 1): March 18, 2025 - 12,42,18,051 shares (Dist. Nos. 1281988654-1406206704)
  • Allotment Date (Tranche 2): March 19, 2025 - 71,90,463 shares (Dist. Nos. 1406206705-1413397167)
  • Trading Commencement: December 26, 2025
  • Lock-in Expiry: December 31, 2027

Impact Assessment

Market Impact: The listing represents a substantial equity dilution through preferential allotment to promoters. However, the 3-year lock-in period (until December 31, 2027) means these shares cannot be traded in the near term, limiting immediate supply-side pressure on the stock price.

Promoter Impact: This warrant conversion indicates capital infusion by promoters, potentially strengthening the company’s financial position and demonstrating promoter confidence in SpiceJet’s prospects.

Investor Consideration: Existing shareholders should note the dilution impact on their holdings, though the locked-in nature of these shares provides stability. The premium of Rs. 19.84 over face value (total Rs. 29.84) may serve as a reference point for valuation considerations.

Impact Justification

Medium importance as this is a significant dilution event (preferential allotment to promoters) involving 131.4 million shares, but shares are locked-in until 2027, limiting immediate market impact.