Description

BSE announces listing of 13,14,08,514 equity shares of SpiceJet Limited issued to promoters on preferential basis pursuant to warrant conversion, effective December 26, 2025.

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 at Rs. 29.84 per share (face value Rs. 10 with premium of Rs. 19.84) pursuant to conversion of warrants. The allotment was completed in two tranches on March 18-19, 2025, and all shares are subject to a lock-in period until December 31, 2027.

Key Points

  • Total new shares listed: 13,14,08,514 equity shares of Rs. 10/- each
  • Issue price: Rs. 29.84 per share (Rs. 10 face value + Rs. 19.84 premium)
  • Issued to: Promoters on preferential basis
  • Basis: Conversion of warrants
  • Trading commencement date: December 26, 2025 (Friday)
  • ISIN: INE285B01017
  • Shares rank pari-passu with existing equity shares
  • Scrip Code: 500285

Allotment Details

First Tranche (March 18, 2025):

  • Shares allotted: 12,42,18,051
  • Distinctive Numbers: 1281988654 to 1406206704

Second Tranche (March 19, 2025):

  • Shares allotted: 71,90,463
  • Distinctive Numbers: 1406206705 to 1413397167

Lock-in Period

  • All 13,14,08,514 shares are locked-in until December 31, 2027
  • Distinctive Numbers under lock-in: 1281988654 to 1413397167
  • Lock-in duration: Approximately 3 years from allotment date

Important Dates

  • Allotment Date (Tranche 1): March 18, 2025
  • Allotment Date (Tranche 2): March 19, 2025
  • Trading Commencement: December 26, 2025
  • Lock-in Expiry: December 31, 2027
  • Notice Date: December 24, 2025

Impact Assessment

Market Impact:

  • Significant equity dilution through preferential allotment to promoters
  • The warrant conversion increases promoter holding in SpiceJet
  • New shares will be tradable from December 26, 2025, but promoter shares remain locked for 3 years

Investor Considerations:

  • Existing shareholders should note the substantial increase in outstanding shares
  • The 3-year lock-in provides stability as promoters cannot sell these shares until end of 2027
  • Issue price of Rs. 29.84 represents the valuation at which promoters subscribed
  • Capital raised through warrant conversion strengthens company’s equity base

Trading Members:

  • Must update systems to reflect increased share capital
  • All trading restrictions and lock-in provisions must be enforced in trading systems

Impact Justification

Significant preferential allotment to promoters representing substantial equity dilution with 3-year lock-in period; important for existing shareholders to track ownership changes