The development comes as SpiceJet seeks to enhance its financial stability and competitiveness in the Indian aviation market.

SpiceJet's QIP received strong investor response, with marquee investors like Madhu Kela's family office participating. The company aims to raise Rs 3,000 crore but has exceeded the target. Other notable investors include Akash Bhanshali,

The proceeds will also be used for settling liabilities of creditors, including aircraft and engine lessors, engineering vendors and financiers

Some investors include family offices of Madhu Kela, Akash Bhanshali, Sanjay Dangi, Rohit Kothari and Bandhan Bank, sources said

AM, shares of SpiceJet were up 3.44 per cent at Rs 71.48 per share. In comparison, the BSE Sensex traded 584.12 points higher at 83,532.35, around the same time. As per a PTI report, the qualified institutional placement has been oversubscribed,

SpiceJet is now looking at a lifeline with its crucial fundraising exercise learnt to be finding favour with investors. The airline's Rs 3,000-crore QIP has been oversubscribed, say sources. The likely investors include institutional funds like Tata Mutual Fund,