InterGlobe Aviation, IndiGo’s parent company has received Securities and Exchange Board of India’s (SEBI) approval for Rs 2,500-crore initial public offering (IPO). InterGlobe Aviation runs the country’s biggest airline by market share under the IndiGo brand. The company is planning to issue fresh shares worth Rs 1,272 crore. An equivalent amount could be raised through the sale of up to 30.1 million shares by existing shareholders.
Citigroup, JPMorgan India, Morgan Stanley, Barclays, UBS Securities India and Kotak Mahindra Capital Company will manage the share sale.
IndiGo is one of the two profit-making domestic airlines, the other being GoAir. The budget carrier saw its net profit jump four-fold to Rs 1,304 crore last financial year.
