Abu Dhabi investment authority buys SpiceJet shares from open market

NEW DELHI: The Abu Dhabi Investment Authority has bought an undisclosed number of shares of budget carrier SpiceJet from the open market. Confirming this, a SpiceJet spokesperson said: “Yes, ADIA has acquired shares of the airline from the open market.”

The ownership of foreign institutional investors (FIIs) in SpiceJet has increased from 0.3% in Dec 2023 to 6.2% in Feb 2024.

According to BSE filing, the promoter and public categories holds 48.5% and 51.5% stake in SpiceJet, respectively. The airline has got some funding in the past few months. Its CMD Ajay Singh has recently made a joint bid for GoAir along with EaseMyTrip founder Nishant Pitti.

While Pitti, who has bid through his company Busy Bee, will bring in about Rs 500 crore for the revival process, Singh, who has bid in his personal capacity, gets experience of running an airline to the table.