SpiceJet Raises Rs 3,000 Crore in Oversubscribed QIP

SpiceJet has successfully raised Rs 3,000 crore through a significantly oversubscribed Qualified Institutional Placement (QIP), attracting prominent global investors and mutual funds such as Goldman Sachs, Morgan Stanley Asia, and Tata Mutual Fund. In addition to the QIP funds, SpiceJet will receive an additional Rs 736 crore from a previous funding round, boosting its financial stability and growth plans. The raised capital will be used to operationalize grounded aircraft, acquire new planes, invest in technology, and expand into new markets. Following the announcement of the QIP, SpiceJet's share price surged over 6% on the BSE, reflecting positive market sentiment. Ajay Singh, Chairman and Managing Director of SpiceJet, expressed gratitude for investor trust and emphasized the airline's commitment to restoring its reputation and enhancing its operations.