SpiceJet board to consider fund raise via QIP on July 23

SpiceJet's board meeting on Tuesday, July 23, aims to raise funds via a qualified institutional placement. Shares initially rose 5%, closing at ₹56.38 on the BSE. Ajay Singh prioritizes funding due to defaults on aircraft lease rentals, statutory dues, and salary payments amid increasing Indian aviation market demand. Sebi regulations guide targeting qualified institutional buyers.