SpiceJet Shares Achieve 10% Gain, Stock Hits ₹72.8 Post-₹3,000 QIPSpiceJet Shares Achieve 10% Gain, Stock Hits ₹72.8 Post-₹3,000 QIP

SpiceJet shares surged by 10% on Monday after the airline announced it had raised ₹3,000 crore through a qualified institutional placement (QIP). The stock reached an intraday high of ₹72.8 on the BSE, though it later settled to ₹69.3, reflecting a 4.8% increase at 12:10 pm.

The QIP, which ran from September 16 to 18, saw a strong response from qualified investors and was significantly oversubscribed. This high level of interest indicates robust confidence in the airline’s growth prospects, as stated by SpiceJet.

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Notable investors in the QIP included Goldman Sachs (Singapore), BNP Paribas Financial Markets, Morgan Stanley Asia, and Tata Mutual Fund, among others. Their participation highlights the trust institutions have in SpiceJet’s future.

In addition to the ₹3,000 crore raised, SpiceJet received an extra ₹736 crore from a prior funding round. The funds will be allocated to operationalizing grounded aircraft, acquiring new planes, investing in technology, and expanding into new markets.

Ajay Singh, SpiceJet’s Chairman and Managing Director, expressed that the overwhelming investor interest underscores confidence in the airline’s potential to grow rapidly and strengthen its position in India’s expanding aviation sector.