SpiceJet QIP worth Rs 30 billion oversubscribed

SpiceJet’s Rs 30 billion QIP has been oversubscribed. Likely investors include Tata Mutual Funds, Discovery Funds and Plutus. The airline reportedly has statutory dues amounting to over Rs 6.01 billion. The move represents strong investor confidence in the airline and its potential for growth. The airline had a fleet size comprising 64 aircraft, of which 34 are grounded as of June 2024.