Struggling low-cost carrier SpiceJet on Saturday said its board has approved the issuance and allotment of 48.70 crore equity shares to qualified institutional buyers at Rs 61.60 per share.

SpiceJet Limited raises ₹3,000 crore through share sale to institutional buyers, aiding struggling airline's financial stability.

SpiceJet has raised Rs 3,000 crore by selling shares to qualified institutional buyers. This funding, involving major foreign entities, will help the airline address financial liabilities. The allotment was made at Rs 61.

Proceeds from the QIP will be used to pay creditors, including aircraft and engine lessors, as well as engineering vendors and financiers.

SpiceJet Ltd.’s $358 million share sale attracted bids from several large investors including Tata Mutual Fund, people familiar with the matter said, providing a lifeline to the Indian airline that has furloughed staff and delayed tax payments.

SpiceJet has raised Rs 3,000 crore through sale of shares to qualified institutional buyers, providing a much-needed tailwind for the struggling airline.

SpiceJet has raised Rs 3,000 crore through the sale of shares to qualified institutional buyers, including major foreign entities. The funds will help the airline clear various dues and liabilities. This financial boost comes as SpiceJet faces multiple challenges and aims to stabilize its operations in a competitive market.

Investors that picked up more than 5 per cent included Authum Investment (9.33 per cent), Discovery Global Opportunity (Mauritius) (8.33 per cent), Troo Capital (6.67 per cent), Societe General-ODI (6.

QIP oversubscribed by Tata Mutual Fund, Discovery Fund. SpiceJet's ₹3,000 crore QIP has attracted significant investor interest, and was oversubscribed by key players such as Ta