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SpiceJet to utilise QIP proceeds to stabilise its 'financial health'

By Economic Times - 2 months ago
Through the QIP, the struggling carrier is aiming to raise funds by selling shares to eligible institutional participants. ICICI and Indian Bank are yet to give consent for the QIP whereas Yes Bank has given the consent, said the carrier. ET earlier reported that promoter Ajay Singh's share may be diluted by more than 10% through the QIP.

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