New Delhi, Mar 4 (PTI) SpiceJet on Monday said Abu Dhabi's sovereign wealth fund ADIA has acquired shares of the airline from the open market.

However, the carrier did not disclose specific details.

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A source close to the airline said Abu Dhabi Investment Authority (ADIA) started buying shares in late February.

The no-frills carrier is facing multiple headwinds and is in the process of raising funds.

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"ADIA has acquired shares of the airline from the open market," a SpiceJet spokesperson said on Monday.

In recent weeks, the carrier has raised a total of Rs 1,060 crore through preferential issuance of securities.

On December 12, the airline had said it would raise fresh capital of Rs 2,250 crore.

Shares of SpiceJet declined 1.50 per cent to Rs 62.58 apiece on BSE.

As of February 21, 2024, public shareholders, including Foreign Portfolio Investors (FPIs), held 51.51 per cent stake in the carrier, according to stock exchange data.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)