$100 Million Investment in SpiceXpress

United Kingdom-based SRAM & MRAM Group will invest $100 million in SpiceXpress and Logistics Pvt Ltd. Both sides have signed a MoU as part of the investment deal. SpiceJet Ltd recently completed the hive off ‘SpiceXpress’ into a separate entity effective April 1, 2023 paving the way for the Company to raise funds independently. The MoU with SRAM & MRAM Group follows a restructuring agreement with aircraft lessor Carlyle Aviation Partner wherein the latter picked up a stake in SpiceXpress at an anticipated future valuation of $1.5 billion or 12,422 crore.