News Karnataka
Wednesday, April 17 2024

ADIA Acquires Shares in Spicejet, FII Share Up 5.88 per Cent

ADIA in Spicejet
Photo Credit : IANS

New Delhi: Abu Dhabi Investment Authority (ADIA) recently acquired shares of Spicejet from the open market.

“Yes, ADIA has acquired shares of the airline from the open market,” said the airline’s spokesperson, while confirming the development.

An airline official claimed that ownership of Foreign Institutional Investors (FIIs) in SpiceJet has witnessed a surge, increasing by 5.88 per cent, from 0.33 per cent in December 2023 to 6.21 per cent in February 2024.

SpiceJet recently secured investments totalling Rs 1060 crore through a preferential issue, with notable investors including Aries Opportunities Fund Limited and Elara India Opportunities Fund Limited.

As per airline officials, part of these funds will be allocated towards settling past liabilities.

On February 28, Spicejet had mutually settled their Rs 250 crore dispute through amicable negotiations with Celestial Aviation, a subsidiary of AerCap, one of the largest aircraft lessor groups.

Read more:

Sky One, Busy Bee & CMD of SpiceJet in bidding war for GoFirst

Spicejet Allots First Preferential Issue Tranche of Rs 744 Cr

SpiceJet: AGM Has Approved Re-appointment of 3 Directors

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