SpiceJet concludes QIP issue of Rs 3,000 cr | Capital Market News
SpiceJet has successfully raised Rs 3000 crore through its recently concluded Qualified Institutional Placement (QIP), which was significantly oversubscribed by investors.
The QIP, which opened on 16 September and closed on 18 September received an overwhelming response from qualified investors, demonstrating strong confidence in the company’s growth prospects.
The QIP attracted a diverse pool of top-tier institutional investors and mutual funds, reaffirming the market’s belief in SpiceJet’s ability to navigate industry challenges and capitalise on the growing demand in the aviation sector. Prominent global investors including Goldman Sachs (Singapore), Morgan Stanley Asia, BNP Paribas Financial Markets ODI, Nomura Singapore Limited ODI, Tata Mutual Fund, Discovery Global Opportunity Ltd, Societe Generale ODI, Authum Investment and Infrastructure Limited, Bandhan Infrastructure Fund, White Oak, Carnelian Bharat Amrikaal Fund, 360 ONE Equal Opportunity Fund and The Jupiter Global Fund have all demonstrated their confidence by participating in the QIP.
In addition to the Rs 3,000 crore raised through its QIP, SpiceJet will also receive an additional Rs 736 crore from the previous funding round, further boosting its financial stability and growth plans.
The fresh capital raised will be instrumental in ungrounding SpiceJet’s fleet, acquiring new aircraft, investing in technology and expanding into new markets. SpiceJet aims to restore its reputation for efficiency and reliability, ensuring passengers have access to improved connectivity and a wider range of travel options.
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First Published: Sep 23 2024 | 5:54 PM IST
