The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for SASOF II (J) Aviation Ireland Ltd & PACs
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A group of nine Ireland-based aircraft leasing entities (SASOF II/III entities, Fly Aircraft Holdings, and Citrine Aircraft Leasing) received 10.42 crore equity shares of SpiceJet through a preferential allotment on November 19, 2025. The shares were issued in lieu of outstanding dues owed by SpiceJet to these lessors as of March 31, 2025. This takes their collective holding from 0% to 6.86% of the expanded share capital (6.49% on a diluted basis). SpiceJet's total equity shares increased from 141.35 crore to 151.77 crore as a result. The acquirers are not part of the promoter group — they are external creditors converting their receivables into equity.
Dilutive for existing shareholders, as total shares outstanding rose about 7.4%. However, the move helps ease SpiceJet's debt burden by settling outstanding aircraft-related dues with equity rather than cash, which may improve the balance sheet. The new holders are financial creditors, not promoters or strategic operators, so no change in management control is expected.