Authum Investment & Infrastructure Limited has completed a significant divestment in SpiceJet Limited, selling its entire unencumbered shareholding through open market transactions. The company filed the mandatory disclosure under SEBI's Substantial Acquisition of Shares and Takeover Regulations on February 27, 2026.

Transaction Details

The sale involved 9,72,14,108 equity shares of SpiceJet Limited, representing 6.37% of the airline's total share capital. The transaction was executed through open market sales on February 25, 2026.

Shareholding Changes

The divestment has significantly altered Authum's position in SpiceJet. Before the sale, Authum held a total of 14,09,14,108 shares representing 9.23% of SpiceJet's equity. This included 9,72,14,108 shares carrying voting rights and 4,37,00,000 encumbered shares.

Company Information

Authum Investment & Infrastructure Limited, incorporated in 1982 with CIN L51109MH1982PLC319008, confirmed that it does not belong to SpiceJet's promoter or promoter group. The company's shares are listed on BSE Limited under scrip code 539177 and on NSE under symbol AIIL.

SpiceJet's Capital Structure

SpiceJet Limited's equity capital structure remained unchanged following the transaction. The airline maintains a total equity share capital of Rs. 15,26,09,94,920, comprising 1,52,60,99,492 equity shares of Rs. 10 face value each. The shares involved in the transaction were ordinary equity shares without any special rights or features.

The disclosure was signed by Amit Dangi, Whole Time Director of Authum Investment & Infrastructure Limited, and filed with both BSE Limited and National Stock Exchange of India Limited as required under regulatory provisions.

The Supreme Court has rejected SpiceJet 's request to challenge the Madras High Court's ruling requiring the airline to deposit Rs 1.45 billion in the ongoing Maran case. This decision represents a significant legal setback for the budget carrier, which had sought relief from the substantial deposit requirement.

Court Decision Details

The apex court's dismissal means SpiceJet must comply with the original High Court order mandating the deposit of Rs 1.45 billion. The airline had approached the Supreme Court seeking to overturn or modify the Madras High Court's directive, but the petition was unsuccessful.

Financial Implications

The requirement to deposit Rs 1.45 billion poses a considerable financial challenge for SpiceJet, which has been navigating various operational and financial difficulties. The substantial amount represents a significant outflow that the airline must now arrange to comply with the court's directive.

Legal Proceedings Context

The case involves ongoing legal disputes related to the Maran matter, though specific details of the underlying litigation were not elaborated in the court's decision. The Madras High Court's original ruling had established the deposit requirement, which SpiceJet unsuccessfully challenged at the Supreme Court level.

With the Supreme Court's rejection of its appeal, SpiceJet must now focus on complying with the deposit order while continuing to address the broader legal proceedings in the Maran case.