SpiceJet has allotted 4.81 crore shares to nine lessors on a preferential basis at Rs 48 per share to clear their existing dues aggregating to Rs 230.99 crore.

The allotment price marks a premium of 54 per cent to its closing price last Friday. Shares of the budget airline on Monday ended at Rs 31.12, a marginal gain of 0.19 per cent over the last finish.

It also allotted 3.41 crore shares at an issue price of Rs 29.84 per share to a promoter entity Spice Healthcare Pvt Ltd and 13.15 crore warrants to the same entity, which can be converted into an equal number of shares also at an issue price of Rs 29.84 per share.

Shareholders of the airline had approved these resolutions late last month.

SpiceJet has been scrambling to raise funds and restore operations for about a fourth of its fleet that has been grounded.

With inputs from Reuters