SpiceJet Raises ₹3,000 Crore To Address Financial Challenges

SpiceJet’s board has approved the issuance of 48.70 crore equity shares to qualified institutional buyers at Rs 61.60 per share, raising nearly Rs 3,000 crore to address operational challenges and financial hurdles. This move follows recent shareholder approval for capital raising, as the airline faces mounting statutory dues and a decline in market share, now at 2.3%.