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SpiceJet launches QIP at Rs 64.79 per share to raise Rs 3,000 crore. This move aims to stabilize operations, reduce debt, and expand the airline’s capabilities.
SpiceJet has launched a Qualified Institutional Placement (QIP) at a floor price of ₹64.79 per share, aiming to raise upto ₹3,000 crore. This development, announced on September 16, was shared with the stock exchanges through a preliminary placement document. The indicative issue price for the QIP is ₹61.60 per share, reflecting a 20.81% discount compared to Monday’s closing price of SpiceJet share price.
The funds raised through this QIP will be used to reduce debt, boost operations, and support the airline's expansion plans. Over the past five days, the SpiceJet share price has increased by 21%, However, in today's session, as of 12:10 PM, the SpiceJet share price is trading at ₹74.68 after a 4% dip.
Additionally, SpiceJet recently finalized a debt restructuring deal with Carlyle Aviation, converting lease arrears into equity. This strategic move, along with the QIP, is expected to strengthen the airline's financial position and support its future growth objectives.
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