Domestic airline SpiceJet has raised Rs 3,000 crore through qualified institutional placement (QIP).
SpiceJet said in a statement, the QIP opened on September 16 and closed on September 18. It was oversubscribed with a good response from qualified investors. This reflects strong confidence in the company's growth prospects.
The company said, apart from the Rs 3,000 crore funding, it also received an additional Rs 736 crore from the previous funding round. This will further boost its financial stability and growth plans.
SpiceJet Chairman and Managing Director Ajay Singh said, “The strong response from investors and institutions is a testimony to their confidence in SpiceJet's ability to expand rapidly and become a strong player in India's growing aviation market.”
With this capital infusion, the airline is poised to strengthen its operations, enhance its fleet and expand its footprint to meet the growing passenger demand, the aviation company said.
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