SpiceJet has received shareholder approval to raise up to Rs 3,000 crore through a special resolution. The airline intends to use the funds to improve its financial situation and return to full operational capacity.

It announced the closure of the QIP pursuant to the receipt of application forms and the funds in the escrow account from the eligible qualified institutional buyers

SpiceJet has raised Rs 3,000 crore through sale of shares to qualified institutional buyers, providing a much-needed tailwind for the struggling airline.

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.