SpiceJet Limited — Capital/Financing Update 2020

Feb 14, 2020

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SpiceJet Limited 319 Udyog Vihar, Phase-IV, Gurugram 122016, Haryana, India. Tel: + 91 124 3913939 Fax: + 91 124 3913844

February 14, 2020

Department of Corporate Services, BSE Limited, Phiroz Jeejeebhoy Towers, Dalal Street, Mumbai - 400001

Reference: Scrip Code: 500285 and Scrip ID: SPICEJET

Subject: Disclosure under Regulation 30 of the SEBI (LODR) Regulations, 2015 – Acquisition

Dear Sir,

This is to inform you that SpiceJet Interactive Private Limited (a subsidiary company of SpiceJet Limited) has now become wholly-owned subsidiary of the Company effective February 14, 2020.

Please find attached disclosure in terms of Regulation 30 of the SEBI (LODR) Regulations, 2015.

This is for your information and records.

Thanking you,

Yours truly, For SpiceJet Limited

Chandan Sand

Sr. VP (Legal) & Company Secretary

Registered Office: Indira Gandhi International Airport, Terminal 1D, New Delhi 110037, India. Website: www.spicejet.com CIN: L51909DL1984PLC288239

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SpiceJet Limited 319 Udyog Vihar, Phase-IV, Gurugram 122016, Haryana, India. Tel: + 91 124 3913939 Fax: + 91 124 3913844

Disclosure under Regulation 30 of the SEBI (LODR) Regulations, 2015

Name of the target entity, details in brief such as size, turnover etc.	SpiceJet Interactive Private Limited (“SIPL”) SIPL was incorporated on April 29, 2019 wherein the Company subscribed to 5,050 equity shares of ₹ 10 each (50.5%). The remaining equity share capital was subscribed by Mr. Ajay Singh and Mr. Debojo Maharshi who holds 1,450 equity share of ₹ 10 each (14.5%) and 3,500 equity shares of ₹ 10 each (35%) respectively. SIPL has not commenced its business operations yet.
Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arms length”	Yes. One of the Seller i.e. Mr. Ajay Singh is the present promoter of the Company. The Company has purchased all equity shares of SIPL from Mr. Ajay Singh and Mr. Debojo Maharshi at a purchase consideration of ₹ 10 each i.e. equivalent to face value of each equity shares. This transaction is on arms length basis.
Industry to which the entity being acquired belongs	Information and communication technology. SIPL hasnot commencedits business operations yet.
Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity)	In order to make SIPL a wholly owned subsidiary of the Company and to achieve operational and management synergy.
Brief details of any governmental or regulatory approvals required for the acquisition	Nil
Indicative time period for completion of the acquisition	February 14, 2020
Nature of consideration - whether cash consideration or share swap and details of the same	Cash consideration
Cost of acquisition or the price at which the shares are acquired	₹ 10 each i.e. equivalent to face value of each equity shares. Total consideration is ₹ 49,500.
Percentage of shareholding/control acquired and/or number of shares acquired	4,950 equity shares of ₹ 10 each (49.50%)
Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information	SIPL was incorporated on April 29, 2019 to explore the business opportunities in activities relating to information and communication technology. SIPL has not commenced is business operation yet.

Registered Office: Indira Gandhi International Airport, Terminal 1D, New Delhi 110037, India. Website: www.spicejet.com CIN: L51909DL1984PLC288239