NEW DELHI: SpiceJet is now taking a look at a lifeline with its essential fundraising train learnt to be discovering favour with traders. The airline’s Rs 3,000-crore certified institutional placement (QIP) has been oversubscribed, say sources. The possible traders embody institutional funds like Tata Mutual Fund, Bandhan Financial institution, Discovery Fund, Plutus, Jupiter Fund Administration and Assume Investments.Household places of work of ace investor Madhu Kela, Akash Bhanshali, Sanjay Dangi and Rohit Kothari are additionally learnt to have subscribed to the QIP.
“This demonstrates sturdy investor confidence within the airline and in its progress potential. The QIP obtained an amazing response from traders and was considerably oversubscribed on its first day. The full provides obtained exceed Rs 3,000 crore. This help reveals the idea within the airline’s potential to capitalise on India’s rising aviation market and obtain sustained progress,” say sources.
The airline may quickly get funds and can then unground its fleet other than paying workers’ PF and TDS dues, sources say.
“This demonstrates sturdy investor confidence within the airline and in its progress potential. The QIP obtained an amazing response from traders and was considerably oversubscribed on its first day. The full provides obtained exceed Rs 3,000 crore. This help reveals the idea within the airline’s potential to capitalise on India’s rising aviation market and obtain sustained progress,” say sources.
The airline may quickly get funds and can then unground its fleet other than paying workers’ PF and TDS dues, sources say.
