SpiceJet looks to raise funds from institutional investors through QIP, shares up 5%
Hindustan TimesSpiceJet is planning to raise funds through a qualified institutional placement after holding a board meeting on July 23, the airline said in a filing to the exchanges on July 19. SpiceJet looks to raise capital after holding a board meeting on July 23 What is a QIP? A qualified institutional placement is a process by which companies can raise capital through select institutional investors by issuing shares, without the need to submit any pre-issue filings to market regulators like the Securities and Exchange Board of India. "We wish to inform you that a meeting of the Board of Directors of SpiceJet Limited will be held on July 23, 2024, inter-alia, to consider and approve raising fresh capital through issue of eligible securities to qualified institutional buyers by way of qualified institutional placement under the provisions of the SEBI Regulations 2018 and any other methods including by way of further issue," the company wrote.
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