No-frills carrier SpiceJet on Thursday said its board of directors will meet on December 11, to consider various options to raise fresh funds on preferential basis.

The announcement comes amid reports that SpiceJet promoter Ajay Singh was in discussions with a bunch of global private credit funds to raise up to $100-million.

"… The board of directors of the company in its meeting scheduled on December 11, 2023 will discuss and consider, inter-alia, options for raising fresh capital through issue of equity shares and/or convertible securities on preferential basis …," SpiceJet said in a regulatory filing.

It also said that the proposals considered will be subjected to "approval of the shareholders of the company and receipt of applicable regulatory approvals."

Except for the headline, this story has not been edited by The Telegraph Online staff and has been published from a syndicated feed.