Lucknow Press
New Delhi: Shares of budget airline SpiceJet have fallen sharply on Tuesday. The fall in the shares has come after the company opened QIP. In fact, on Monday, the company had opened qualified institutional placement for up to Rs 3,000 crore at a low price of Rs 64.79 per share. After this, investors are booking profits today.
Company shares fell 3 percent
On Tuesday, SpiceJet shares fell by about 3 percent from its previous close of Rs 77.79 and opened at Rs 74.90. Let us tell you that in the last 5 trading sessions, the company’s shares have registered a jump of 14 percent, while the shares have increased by 35 percent in 1 month. Apart from this, SpiceJet has given a return of more than 99 percent to its investors during a period of one year.
The company is raising Rs 3,000 crore through QIP
According to media reports, the size of the Qualified Institutional Placement (QIP) has not been officially announced, but the company said that it has already received board approval to raise Rs 3,000 crore. The money raised through QIP will be entirely given to the airline.
This information was given in the exchange filing
Earlier, on September 13, SpiceJet had informed the exchanges in an exchange filing that the postal ballot had received 99.8% votes in favour of the decision to raise funds. The airline had earlier announced its plan to raise Rs 2,500 crore through QIP and Rs 736 crore from previous warrants and promoter contributions.
