Low cost carrier Spice Jet plans to raise 1,500 crore rupees by way of issuing securities and allotting non-convertible preference shares to its promoters, Marans who will be exiting the company. At its meeting yesterday, the Board of Spice Jet, approved the entire 58.46 per cent stake sale of its promoter group, Marans, to Ajay Singh.The embattled airline, which received a lifeline from original promoter Singh earlier this month, would also issue up to 37.5 lakh non-convertible cumulative redeemable preference shares of 1,000 rupees a piece to Kalanithi Maran or Kal Airways or both on a preferential basis. The Board has also accepted the resignations of Maran, Kavery Kalanithi and S Natrajhen with immediate effect. In a regulatory filing today, Spice Jet, which is going through an ownership change, said, its Board of Directors have taken on record the share sale and purchase agreement between the company, Kalanithi Maran, Kal Airways and Ajay Singh.