SpiceJet announced on Monday that shares of the airline were purchased off the open market by Abu Dhabi’s sovereign wealth fund, ADIA. The airline did not, however, provide any precise information.
An Intruder
According to a person familiar with the airline, Abu Dhabi Investment Authority (ADIA) began purchasing shares towards the end of February.
The straightforward airline is trying to raise money while dealing with a number of challenges.
Preferential Issuing of Securities
Through the preferential issuing of securities, the carrier has raised a total of Rs 1,060 crore in recent weeks
The airline had announced on December 12 that it would seek the additional Rs 2,250 crore in capital.
Stock Exchange Records
According to stock exchange records, as of February 21, 2024, public shareholders, including Foreign Portfolio Investors (FPIs), held a 51.51 percent ownership in the carrier.
