The conglomerate is already the largest operator of airports in the country, and the investment could indicate a further interest in the aviation business.
Investors of SpiceJet’s Rs 2,250 crore worth equity shares, announced on Tuesday, include Elara India Opportunities Fund, which has been previously linked with the Adani group.
This will set off a buzz in the aviation industry of the possible interest from billionaire Gautam Adani in the Ajay Singh-owned airline.
Elara India Opportunities Fund is one of the foreign institutional investors that has substantial holdings in Adani group companies. We wrote about the fund and others in 2021; at the time, 97% of the fund’s net worth came from its investments in Adani companies. (Read more: “Why do these foreign funds …
Prince leads the newsroom at The Morning Context as managing editor. A fascination with the written word has taken Prince to some of the leading newsrooms across the country, including The Economic Times, Dow Jones Newswires, Forbes India and Moneycontrol. In a career spanning 20 years, Prince has led teams, managed pages, projects and special editions, and has authored The Consolidators, published by Penguin Random House in 2017.
Managing Editor
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