The second biggest air carrier of India, SpiceJet has signed an agreement with Ross and Goldman Sachs of America.

Wilbur Ross and Goldman Sachs will invest around $100 million in Spice Jet as per new agreement. Earlier, it has decided to invest Rs 336 crore.

The American equity firm will invest the amount in two phases. The process is going on to get the fresh warrant approval from the Securities and Exchange Board of India (Sebi).

There is a possibility of fresh offer based on new agreement as the total investment is likely to exceed 15 percent of listed firms. Ross is also interested to buy entire foreign currency convertible bonds from Goldman Sachs. The total amount of bonds is expected to touch $42.5 million mark.

Ross will also buy bonds from Dubai-based investment group Istithmar with a total investment of $25 million. The director of Spice Jet Kishore Gupta said that the firm is ready to face fresh open offer. The company will call meeting of general body on September 10.

Spice jet has total market share of 10 percent in airline market with flights to 94 daily destinations. The shares of spice jet were traded at Rs 30.25 on the Bombay Stock Exchange on July 11.