SpiceJet Ltd.’s $358 million share sale attracted bids from several large investors including Tata Mutual Fund, people familiar with the matter said, providing a lifeline to the Indian airline that has furloughed staff and delayed tax payments.

SpiceJet oversubscribes ₹3,000 crore share sale to institutional buyers, aiming to clear statutory dues and raise funds.

SpiceJet shares surged over 8 per cent and registered an intraday high of Rs 74.7 per share. The stock surged after reports said the airline has received a good response for its Rs 3,000 crore-worth sale of shares to qualified institutional buyers.

SpiceJet, which has statutory dues of more than Rs 601 crore, has received a good response for its Rs 3,000 crore-worth sale of shares to qualified institutional buyers. PTI

Low-cost airline SpiceJet Ltd. has accumulated Rs 794 crore in pending statutory dues since assessment year 2010, according to its latest exchange filing.

New Delhi: SpiceJet, which has statutory dues of more than Rs 601 crore, has received a good response for its Rs 3,000 crore-worth sale of shares to qualified institutional buyers. Operating with a reduced fleet as well as facing financial and legal headwinds, the carrier is looking to raise funds.

SpiceJet, with statutory dues exceeding Rs 601 crore, has successfully oversubscribed its Rs 3,000 crore share sale to qualified institutional buyers. The funds will help the airline address financial and legal challenges,