Please find attached Outcome of 41st Annual General Meeting of SpiceJet Limited held on September 30, 2025 and Scrutinizer report
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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SpiceJet's 41st AGM was held on September 30, 2025 via video conference, and shareholders approved all six resolutions. Ordinary resolutions included adoption of FY25 audited financial statements (84.51% in favor), re-appointment of Mrs. Shiwani Singh as director (89.25% in favor), appointment of Kalyaniwalla & Mistry LLP as statutory auditors (99.86% in favor), and appointment of Mahesh Gupta & Co. as secretarial auditor (99.86% in favor). Two special resolutions approved the preferential issue of equity shares to aircraft lessors (99.89% in favor) and to GASL Aviation Holdings Limited (99.89% in favor) by converting their outstanding dues into equity. Around 15% of votes were against the financial statements, while all other resolutions saw overwhelming approval.
The preferential allotments to aircraft lessors and GASL Aviation (a promoter-linked entity) will convert debt into equity, reducing liabilities but diluting existing shareholders. The notable dissent on the FY25 financial statements (15.5% against) may signal some shareholder concerns about the company's financial performance. Watch for upcoming share issuance announcements which will determine the extent of dilution.