HomeNewsBusinessCompaniesHDFC Trustee Company buys 0.42% stake in SpiceJet

HDFC Trustee Company buys 0.42% stake in SpiceJet

HDFC Trustee is a wholly-owned subsidiary of HDFC and trustee company of HDFC Mutual Fund.

April 01, 2020 / 10:27 IST
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HDFC Trustee Company on March 20, bought 25 lakh shares of SpiceJet from the open market constituting  o.42 percent of the airline shareholding.

HDFC Trustee Company,  a wholly-owned subsidiary of HDFC, is the Trustee to HDFC Mutual Fund, the largest mutual fund in the country.

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With the buy, HDFC Trustee now has 5.05 percent stake in the airline.

SpiceJet, like the rest of its peers in the domestic industry, has suspended operations until April 14, because of the nationwide lockdown.