SpiceJet plans to expand its fleet by adding 75 aircraft over the next two years, funded by a recently concluded Rs 3,000 crore QIP. CEO Ajay Singh believes this amount is sufficient for their expansion strategy,

With this allotment, the airline's paid-up equity share capital will increase from Rs 794.67 crore, representing 79.46 crore equity shares, to Rs 1,281.68 crore, representing 128.16 crore equity shares.

SpiceJet’s Qualified Institutional Placement (QIP) worth ₹3,000 crore was oversubscribed, the airline informed today via an exchange filing. In addition to the QIP, the company secured an additional ₹736 crore from the previous funding round, bolstering the cash-strapped airline's financial position.

The shares of SpiceJet soared by up to 10% on September 23, following the airlines successful Rs 3,000 crore fundraising through Qualified Institutional Buyers (QIBs). This move offered a significant financial boost to the low-cost carrier amid financial challenges in recent times.

SpiceJet said on Monday that it has successfully raised Rs 3000 crore through its recently concluded Qualified Institutional Placement (QIP). In addition to the Rs 3,000 crore, SpiceJet claims it will also receive an additional Rs 736 crore from the previous funding round,

SpiceJet shares surged by up to 6% after completing a Rs 3,000 crore Qualified Institutional Placement, attracting global investors. The airline aims to have 100 aircraft by the end of 2026 and plans to return its grounded planes to service.