SpiceJet clears GST dues days after raising Rs 30 Bn via QIP

30 Sep 2024 CW Team

Low-cost airline SpiceJet on Friday cleared all its Goods and Services Tax (GST) dues, a day after settling all salary arrears for its employees. This comes after the airline this week raised Rs 3,000 crore through a QIP.

The QIP attracted a diverse range of institutional investors and funds, including Goldman Sachs (Singapore), Morgan Stanley Asia, Tata Mutual Fund, and Discovery Global Opportunity Ltd.

“We are proud to have cleared all GST dues, a significant step towards reinforcing our commitment to financial discipline and regulatory compliance,” said Ajay Singh, Chairman & Managing Director of SpiceJet.

“These developments reflect our commitment to providing exceptional service to our passengers while positioning ourselves strategically for the future.” The airline had earlier revealed it has not paid around Rs 220 crore in tax deducted at source (TDS) from employees' salaries between April 2020 and August 2023 to tax authorities.

On September 24, SpiceJet announced it had resolved its dispute with Engine Lease Finance Corporation (ELFC) through an amicable settlement. ELFC had previously claimed $16.7 million, and the settlement has been reached for an undisclosed amount, which is lower than the initial claim.

Meanwhile, the market share of SpiceJet airline has been shrinking, as per the latest DGCA data. In January, the airline had a market share of 5.6 per cent and since then it has continuously fallen, and in August, it dipped to 2.3 percent. The airline had a largish share of 10.5% in 2021. The shares of SpiceJet were trading with gains of 0.66 per cent as of 10:30 am, while the benchmark indices were up roughly 0.12 per cent.

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..