Indian low-cost carrier SpiceJet (SPJT.NS) said on Wednesday top shareholder Ajay Singh would infuse 5 billion rupees ($60.85 million) into the company to strengthen the airline's financial position.
Ajay Singh, also SpiceJet's managing director, holds a 50.6% stake in the company, as per exchange data.
The fundraise comes as SpiceJet looks to quell fears of the airline going insolvent after rival GoFirst filed for voluntary bankruptcy.
($1 = 82.1664 Indian rupees)
