SpiceJet, the Indian airline, has successfully raised ₹3,000 crore through a Qualified Institutional Placement (QIP) that saw significant oversubscription from investors. This capital will aid in ungrounding 28 of its 36 grounded aircraft, acquiring new planes, enhancing technology, and expanding into new markets. The QIP attracted various prominent global investors, reflecting strong confidence in SpiceJet’s growth potential. Chairman Ajay Singh expressed gratitude for the support received and emphasized the airline’s commitment to rebuilding itself as a leading player in India’s aviation sector.
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