SpiceJet has received a term sheet with an investment proposal of Rs 5,000 crore from an investor, sources said.
The board of directors of SpiceJet will consider this proposal at its meeting on November 18, people familiar to the development said NDTV Profit.
The airline operator had earlier announced that its board meeting is scheduled on November 18 to consider fundraising plan.
SpiceJet proposes to raise funds by way of issuance of equity shares, preference shares, debt securities and/or other permissible instruments, through preferential issue, qualified institutions placement or any other mode, the company said in a regulatory filing on November 13.
Earlier, NDTV Profit reported that SpiceJet's check-in services at Dubai Airport were suspended for a day on November 12 by ground handling company DNATA over non-payment of dues.
SpiceJet owes more than 14 million dirhams to DNATA, according to an email exchange accessed by NDTV Profit.
The suspension of check-in services was limited to November 12.
SpiceJet spokesperson said that the company was in the process of resolving the matter with the concerned authorities.
“We have adequate bank guarantee cover in place and are working to ensure that the issue is sorted out at the earliest,” the spokesperson said.
SpiceJet share price hit 5% on Friday. The aviation stock gained as much as 5% to Rs 8.67 apiece on the BSE.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.