Description

SpiceJet Limited lists 13,14,08,514 equity shares at Rs. 29.84 per share issued to promoters on preferential basis pursuant to warrant conversion, effective December 26, 2025.

Summary

BSE has approved the listing of 13,14,08,514 equity shares of SpiceJet Limited (Scrip Code: 500285) issued to promoters on a preferential basis pursuant to warrant conversion. The shares will commence trading on December 26, 2025, with a face value of Rs. 10/- each and issue price of Rs. 29.84/- (including premium of Rs. 19.84/-). All shares are subject to lock-in until December 31, 2027.

Key Points

  • Total shares listed: 13,14,08,514 equity shares
  • Face value: Rs. 10/- per share
  • Issue price: Rs. 29.84/- per share (premium of Rs. 19.84/-)
  • Allotment done in two tranches: March 18 and March 19, 2025
  • Shares rank pari-passu with existing equity shares
  • ISIN: INE285B01017
  • Distribution numbers: 1281988654 to 1413397167
  • Notice number: 20251224-18

Regulatory Changes

No regulatory changes introduced. This circular pertains to standard listing procedures for preferential allotment of equity shares pursuant to warrant conversion.

Compliance Requirements

  • Trading members are informed about the new securities available for trading
  • All listed shares are subject to mandatory lock-in restrictions
  • Shares cannot be transferred or traded by allottees until lock-in expiry

Important Dates

  • Allotment Date (Tranche 1): March 18, 2025 (12,42,18,051 shares)
  • Allotment Date (Tranche 2): March 19, 2025 (71,90,463 shares)
  • Trading Commencement: December 26, 2025 (Friday)
  • Lock-in Expiry: December 31, 2027
  • Notice Date: December 24, 2025

Impact Assessment

Market Impact: The listing of over 131 million shares represents significant equity dilution. However, immediate trading impact is limited as all shares are locked-in until end of 2027. The preferential allotment to promoters may indicate capital raising efforts or debt restructuring initiatives.

Shareholding Impact: The promoter shareholding will increase substantially given the preferential nature of the allotment. The conversion from warrants suggests previously planned capital infusion is now materialized.

Liquidity Impact: Minimal immediate impact on free float as shares remain locked for approximately 2 years. Post lock-in expiry, significant supply may enter the market affecting share price dynamics.

Investor Consideration: Existing shareholders should note the dilution impact on earnings per share and voting rights. The issue price of Rs. 29.84 will serve as a reference point for valuation assessment.

Impact Justification

Significant equity dilution through promoter preferential allotment of 131 million shares with long-term lock-in, impacting shareholding structure but limited immediate trading impact due to lock-in restrictions.