United Kingdom]based SRAM & MRAM Group will invest $100 million in SpiceXpress and Logistics.
Both sides have signed a MoU as part of the investment deal.
SpiceJet recently completed the hive off eSpiceXpressf into a separate entity effective 01 April 2023 paving the way for the Company to raise funds independently.
Headquartered in United Kingdom, SRAM & MRAM group is a leading international conglomerate with offices in Cambodia, South Africa, Indonesia, Malaysia, Bahrain, Georgia, India & Bangladesh. The Groupfs interests are spread across multifarious services, business verticals and operations viz., agricultural and agro]food products, neural networks, artificial intelligence, hedge fund management, forex management, hospitality services and solutions, information technology, media and publishing, embedded systems and infrastructure.
The MoU with SRAM & MRAM Group follows a restructuring agreement with aircraft lessor Carlyle Aviation Partner wherein the latter picked up a stake in SpiceXpress at an anticipated future valuation of $1.5 billion or Rs 12,422 crore.