Mumbai: Non-banking financial company Authum Investment & Infrastructure Limited (AIIL) has acquired a 6.8% stake in low-cost carrier SpiceJet Limited following the invocation of pledged shares, according to a regulatory filing made on February 26.
The company said it invoked pledge on 10,37,00,000 equity shares of SpiceJet held by promoter Ajay Singh, which were pledged as security against outstanding dues of Spice Healthcare Private Limited. The shares were transferred to Authum’s dematerialised account on February 25.
Out of the total shares invoked, Authum has already sold 6,00,00,000 equity shares, while 4,37,00,000 shares — representing about 2.86% of SpiceJet’s paid-up share capital — continue to remain in its demat account as ongoing security.
The acquisition does not qualify as a related party transaction, the company clarified in its disclosure under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements (LODR).
No separate cash consideration was paid for the transaction, as the transfer was triggered by invocation of pledged shares.
SpiceJet’s financials
SpiceJet, incorporated in December 1984, operates domestic and international passenger and cargo services. The airline reported a turnover of ₹5,326 crore in FY25, down from ₹7,085 crore in FY24 and ₹8,874 crore in FY23, reflecting continued operational and financial headwinds in recent years.
The development comes at a time when the aviation sector is navigating pricing pressures, fleet constraints and balance sheet stress among select carriers.
Authum did not disclose the value realised from the partial sale of shares.
Market participants will closely watch whether the remaining stake is offloaded or retained, and the potential implications for SpiceJet’s promoter holding structure going forward.