SpiceJet shares jumped more than 8% after the company sets to expand its fleet by 10 aircraft by November, including 7 leased and 3 previously grounded planes.
This follows a successful INR 3,000 crore QIP and INR 736 crore from previous funding. The funds will go toward acquiring new aircraft, expanding the market, investing in technology and ungrounding aircraft. SpiceJet seeks to improve connectivity and offer affordable travel.
As of 11:14 am, SpiceJet shares were trading 8.08% higher at Rs 62.21 on the NSE.
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