Authum Investment & Infrastructure Limited has acquired a significant stake in SpiceJet Limited through the invocation of pledged shares, marking a notable development in the aviation sector. The acquisition was completed on February 25, 2026, involving 10.37 crore equity shares representing approximately 6.80% of SpiceJet's paid-up share capital.

Acquisition Details

The share acquisition resulted from the invocation of a pledge arrangement where SpiceJet promoter Ajay Singh had pledged his equity shares with Authum Investment & Infrastructure Limited to secure outstanding dues of Spice Healthcare Private Limited. The transaction involved no separate cash consideration, as it was executed through the enforcement of existing security arrangements linked to Spice Healthcare's outstanding debts.

Current Holdings Structure

Following the acquisition, Authum Investment & Infrastructure Limited has sold 6.00 lakh equity shares from the total acquired position. The remaining 4.37 crore equity shares, representing approximately 2.86% of SpiceJet's paid-up share capital, continue to be held in the company's dematerialized account as continuing security for the underlying obligations.

About SpiceJet Limited

SpiceJet Limited, incorporated on December 09, 1984, operates as a prominent player in India's aviation industry, providing domestic and international air passenger and cargo transportation services. The airline's equity shares are listed on both BSE Limited and NSE Limited.

Financial Performance Overview

The airline has demonstrated varying financial performance over the past three years, with turnover declining from ₹8,874.00 crore in FY 2022-23 to ₹5,326.00 crore in FY 2024-25.

Regulatory Compliance

The acquisition has been disclosed in compliance with Regulation 30 of the Securities Exchange of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transaction does not fall within related party transactions, and no governmental or regulatory approvals were required for the completion of this pledge-based acquisition.

This development represents a strategic enforcement of security arrangements in the aviation sector, with Authum Investment & Infrastructure Limited now holding a meaningful stake in one of India's key airline operators through the invocation of pledged securities linked to Spice Healthcare's outstanding debts.

Authum Investment & Infrastructure Limited announced its unaudited financial results for the quarter ended December 31, 2025, following a Board meeting held on February 10, 2026. The company reported strong financial performance across both consolidated and standalone operations during Q3FY26.

Financial Performance Overview

The company demonstrated solid profitability in Q3FY26 with consolidated operations generating a net profit of ₹161.47 crores compared to ₹539.41 crores in the corresponding quarter of the previous year. Standalone operations recorded a profit of ₹168.02 crores for the quarter, down from ₹545.18 crores in Q3FY24.

For the nine months ended December 31, 2025, consolidated profit reached ₹1,871.81 crores while standalone profit stood at ₹1,873.93 crores, reflecting strong year-to-date performance.

Major Capital Initiatives

During Q3FY26, the company undertook significant capital raising activities through private placement of Non-Cumulative Non-Convertible Redeemable Preference Shares (NCRPS) to its promoter, Mentor Capital Limited.

The total fundraising of ₹2050 crores was completed through the issuance of 2,05,00,000 NCRPS at face value of ₹10 each and issue price of ₹1000 per share. These preference shares carry a 15-year redemption period and were issued following shareholder approval obtained through postal ballot on November 17, 2025.

Corporate Actions and Strategic Developments

The Board of Directors approved several key corporate actions during the quarter:

• Bonus Share Issue: Approved 4:1 bonus share ratio, meaning 4 new fully paid-up equity shares of ₹1 each for every 1 existing share. Following shareholder approval via postal ballot on December 31, 2025, the company allotted 67,93,80,400 bonus equity shares on January 14, 2026.

• Authorized Capital Increase: Enhanced from ₹100 crores to ₹128 crores, comprising 86 crore equity shares of ₹1 each and 4.20 crore preference shares of ₹10 each.

• Employee Stock Option Scheme: Introduced ESOP 2025 for grant of 5,00,000 options to eligible employees, approved by shareholders through postal ballot on December 15, 2025.

Business Segment Performance

The company's diversified business model showed varied performance across segments:

Subsidiary and Investment Updates

The consolidated results include five subsidiary entities, with new additions during the period including India SME Asset Reconstruction Company (from June 17, 2025), Billion Dream Sports Private Limited (from July 31, 2025), and BIC Cello (India) Private Limited (from November 22, 2025).

During the quarter, the company invested in 100% equity capital of BIC Cello (India) Private Limited and acquired 35.09% equity stake in Rivaara Labs Private Limited.

Regulatory and Compliance Matters

The company confirmed no deviation or variation in the utilization of proceeds from the private placement allotments as per the objects stated in the postal ballot notice dated October 16, 2025. The financial results were reviewed by the audit committee and approved by the Board of Directors, with limited review conducted by statutory auditors Maharaj N R Suresh & Co LLP and APAS & CO LLP.