Funding
SpiceJet Board Schedules November 18 Meeting to Consider Preferential Issue or QIP
By News Desk ·
Key takeaways
- SpiceJet's board will meet on November 18, 2026, to consider and approve a fresh capital raise.
- The proposal covers equity shares, preference shares and debt securities via preferential issue or qualified institutions placement.
- The trading window for dealing in SpiceJet securities is closed until further notice under SEBI insider trading rules.
SpiceJet Limited has scheduled a board meeting for November 18, 2026, to consider and approve proposals for raising fresh capital through a preferential issue or qualified institutions placement, ScanX reported. The airline did not disclose the amount it intends to raise.
What SpiceJet's Board Will Consider
The proposal covers equity shares, preference shares, debt securities or other permissible instruments, issued through a preferential issue or a QIP. The plan is subject to applicable laws, including the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. Final approval depends on consents from shareholders and regulatory authorities as required.
SpiceJet informed BSE Limited under Regulation 29(1)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The trading window for dealing in the company's securities has been closed and will remain shut until further notice, in line with the SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's internal code of conduct. Chandan Sand, Senior Vice President (Legal) and Company Secretary, signed the filing on November 13, 2026.
SpiceJet's Earlier Funding and Fleet Records
According to akta.pro company records, SpiceJet raised Rs 3,000 crore through a qualified institutions placement in September 2024, with an additional Rs 736 crore from a previous funding round. In June 2026 the airline secured the first tranche of Rs 150 crore from a Rs 500 crore Bank of India facility under the government-backed ECLGS 5.0 scheme, part of a Rs 5,000 crore credit line earmarked for aviation-sector liquidity restoration.
| Date | Round | Amount | Lead investor |
|---|---|---|---|
| 2024-01 | Post IPO equity | $89.5 million | 3 investors |
| 2024-09 | Post IPO equity | $358.1 million | 13 investors |
| 2025-03 | Post IPO equity | $34.1 million | Spice Healthcare Private Ltd |
| 2026-06 | Post IPO debt | $15.9 million | Bank of India |
The same records list eight funding rounds and total funding of $627.1 million, with the last round dated June 19, 2026.
Flight Cuts and Dues Before the Board Meeting
On November 9, 2026, CNBC TV18 reported that SpiceJet was cancelling 15-20 flights daily and had shrunk its fleet to 12 aircraft, with three grounded over non-payment to lessors. The airline operates on a cash-and-carry basis, and employees had not received salaries since June 2026.
On November 12, 2026, the New Indian Express reported that SpiceJet's frequent flight cancellations stemmed from its inability to pay mandatory airport charges, which barred it from operating. On November 13, 2026, Business Today reported that Dubai International Airport suspended SpiceJet check-ins over 14 million dirhams (₹35.8 crore) in unpaid dues, cancelling four flights to India.
November 18 Board Vote
The board meeting to consider the capital raise is set for November 18, 2026, the date given in the company's BSE intimation.