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#SPICEJET : SpiceJet fundraise will be crucial for its survival, say experts

After reporting a fifth consecutive quarterly loss, SpiceJet Ltd's hopes to raise funds to the tune of ₹2,500 crore will be crucial for the airline to navigate the challenges faced by the pandemic-hit aviation sector and ensure its long-term sustainability, industry experts said.

SpiceJet has approved a fundraise through the issue of eligible securities to qualified institutional buyers and if this happens through fresh equity, the shareholding of the current promoter will fall from 60% to 40%, ICICI Securities said in a research note on Thursday.