SpiceJet raises ₹3K cr via QIP from global investors
Business Standard|September 24, 2024
Stock surges 7.45% in intraday trade on fresh fund infusion
AJINKYA KAWALE
SpiceJet raises ₹3K cr via QIP from global investors
Low-cost airline SpiceJet on Monday announced that it has raised ₹3,000 crore through a qualified institutional placement (QIP) from global investors and mutual funds, as the firm said it wants to restore its reputation for "efficiency and reliability".

The airline also said it will receive an additional ₹736 crore from a previous funding round to improve its financial stability and support growth plans.

With the latest capital infusion, the firm plans to strengthen its operations, expand its fleet, and extend its network to service passenger demand in the country.

The SpiceJet stock surged 7.45 per cent in intraday trades on Monday to ₹71.

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