Latest News | SpiceJet Shareholders Approve Rs 3,000 Cr Fund Raising Plan

New Delhi, Sep 13 (PTI) SpiceJet on Thursday said its shareholders have approved the proposal to raise up to Rs 3,000 crore through issuance of securities.

The no-frills carrier -- which is grappling with multiple woes, including financial challenges, legal battles and grounding of aircraft -- is looking to raise money that will help it meet various obligations.

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In a regulatory filing on Friday, the airline said shareholders have given their nod for the special resolution for raising funds of up to Rs 3,000 crore.

The funds are proposed to be raised through Qualified Institutional Placement (QIP) and other options.

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SpiceJet, which had a fleet of 74 planes in 2019, is currently operating around 20 aircraft.

Shares of the airline rose 8 per cent to close at Rs 71.66 on the BSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)