+
SpiceJet Settles 10 Months of Pending PF and Salaries for Employees
AVIATION & AIRPORTS

SpiceJet Settles 10 Months of Pending PF and Salaries for Employees

SpiceJet announced that it had deposited the pending salaries and provident fund contributions of its employees, which had been due for ten months. The airline also confirmed that it had successfully reached settlements with several lessors.

SpiceJet was pleased to report that within the first week of raising fresh funds through a Qualified Institutional Placement (QIP), it had cleared all outstanding salary and GST dues. Additionally, significant progress had been made in depositing ten months of provident fund dues, with the process of settling other pending liabilities still underway. The company also highlighted that it remained on track with the financial and operational plan laid out in its QIP strategy.

Last month, SpiceJet raised Rs 30 billion through the QIP, which opened on September 16 and closed on September 18. The placement received an overwhelming response from qualified investors and was significantly oversubscribed, reflecting strong confidence in the company's growth prospects. The QIP attracted a diverse group of top-tier institutional investors and mutual funds, including Goldman Sachs (Singapore), Morgan Stanley Asia, BNP Paribas Financial Markets ODI, Nomura Singapore Ltd ODI, Tata Mutual Fund, and Discovery Global Opportunity, among others.

SpiceJet announced that it had deposited the pending salaries and provident fund contributions of its employees, which had been due for ten months. The airline also confirmed that it had successfully reached settlements with several lessors. SpiceJet was pleased to report that within the first week of raising fresh funds through a Qualified Institutional Placement (QIP), it had cleared all outstanding salary and GST dues. Additionally, significant progress had been made in depositing ten months of provident fund dues, with the process of settling other pending liabilities still underway. The company also highlighted that it remained on track with the financial and operational plan laid out in its QIP strategy. Last month, SpiceJet raised Rs 30 billion through the QIP, which opened on September 16 and closed on September 18. The placement received an overwhelming response from qualified investors and was significantly oversubscribed, reflecting strong confidence in the company's growth prospects. The QIP attracted a diverse group of top-tier institutional investors and mutual funds, including Goldman Sachs (Singapore), Morgan Stanley Asia, BNP Paribas Financial Markets ODI, Nomura Singapore Ltd ODI, Tata Mutual Fund, and Discovery Global Opportunity, among others.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code