SpiceJet Board to Consider Capital Raise Amid Market Share Drop
SpiceJet will meet on November 18 to approve a proposal for raising fresh capital as its domestic market share falls to 0.6 percent.
SpiceJet announced that its board of directors will meet on November 18, 2026, to consider and approve a proposal for raising fresh capital. The budget carrier intends to secure funds through the issuance of equity shares, preference shares, debt securities, or other permissible instruments via preferential issues or qualified institutions placements.
This financial move follows significant operational headwinds that have forced the airline to curtail flights. Data from the Directorate General of Civil Aviation shows the company's domestic market share dropped to 0.6 percent in September, down from 1.2 percent in August.
Following the announcement of the upcoming board meeting, SpiceJet shares rose nearly 5 percent to ₹8.67 on the BSE.
