NEW DELHI : HDFC Trustee Company Ltd. has bought 3.4 crore shares of SpiceJet Ltd. from the open market, thus picking up 5.45% stake in the airline, a source with direct knowledge of the matter told Mint on Monday.
HDFC Trustee Company Limited, arm of HDFC Mutual Fund — country’s largest mutual fund — is wholly owned subsidiary of Housing Development Finance Corporation Limited.
“This act shows that companies such as HDFC, which owns the country’s largest mutual fund, has confidence in the airline to come out of the current crisis,” the source mentioned above added.
