SpiceJet Gets Shareholder Nod For Transferring Cargo Business; Plans To Raise Rs 2.5 Crore Via QIP

New Delhi: Budget airline SpiceJet on Tuesday said shareholders have approval the transfer of cargo and logistics services business to its subsidiary, SpiceXpress, on slump sale basis valued at Rs 2,555.77 crore. The airline, in a release, said, "The consideration for the slump sale shall be discharged by SpiceXpress by issuance of its shares in favour of SpiceJet."