New Delhi, Sept. 8: Macritchie Investments, a wholly-owned subsidiary of Sigapore’s Temasek Holdings, and Istithmar, the investment arm of the government of Dubai, will pick up a 6 per cent stake in low-cost carrier SpiceJet.

“Both these firms are strategic, long-term players with experience in investing in aviation firms ... it will be an asset to have them on board with us,” said Ajay Singh, CEO of the Delhi-based airline, formerly known as Modiluft.

Singh said the two firms will bring in about $20 million, which will be used for aircraft acquisition. “We also plan to float bonds within the next few weeks. The bonds should mop up $70-75 million.”

Sources added that Macritchie and Istithmar would probably be eyeing larger stakes in future.

The investment would be made according to the pricing formula laid down by Sebi, a SpiceJet spokesman said here.

The airline would soon seek the required approvals, including shareholders clearance for the allotment of equity shares on a preferential basis.

Macritchie has investments in Singapore Airlines, Singtel, DBS Bank. In India, it has stakes in ICICI, Matrix Labs, Tata Consultancy, M&M and Wellspun. Istithmar, whose first investment in India is in SpiceJet, also has a big global reach.