Sebi exempts Spice Healthcare from open offer to SpiceJet shareholders for 13.74% stake increase via warrant conversion, with a 24-month lock-in period.
The Securities and Exchange Board of India (Sebi) has exempted Spice Healthcare Pvt Ltd from making an open offer to SpiceJet shareholders as it acquires 13,14,08,514 additional equity shares via warrant conversion, boosting its stake by 13.74%. This exemption requires a total lock-in period of 24 months for the shares, exceeding the usual 18 months. The decision aims to support SpiceJet's financial recovery efforts.
September 14, 2024
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