BUDGET airline SpiceJet, which has statutory dues of more than ₹6.01 billion (£54.40 million), has received a good response for its ₹30 billion (£271.54m)-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.

Sources in the know on Wednesday said the qualified institutional placement has been oversubscribed, with participation from various investors, including family offices and institutional funds.

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

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