India’s Securities and Exchange Board (SEBI) has vetoed a move by the Mauritius-registered Elara India Opportunities Fund to convert SpiceJet (SG, Delhi International) warrants into equity shares because the fund has failed to comply with beneficial ownership norms, according to the Moneycontrol digital newspaper.

The fund wants to convert INR4.16 billion rupees (USD48.7 million) worth of warrants into shares. However, the fund lost its SEBI-issued foreign portfolio investors licence in March 2024 after failing to disclose…

Source: ch aviation
Read more: Investment fund hits roadblock converting SpiceJet warrants