IndiGo approves price band of QIP at Rs 1,125-1,175

India Infoline News Service | Mumbai | September 14, 2017 09:09 IST

IndiGo airlines operator, InterGlobe Aviation’s qualified institutional placement (QIP) will open on September 15, 2017.

Indigo-Airlines
IndiGo airlines operator, InterGlobe Aviation’s qualified institutional placement (QIP) will open on September 15, 2017. The company had announced an institutional share sale of 3.36 crore equity shares on Monday to reduce promoter holding and meet minimum public shareholding norms set by RBI.
 
The QIP includes a fresh issue of 2.24 crore shares, and an offer for sale of 1.12 crore shares by certain promoter entities, as reported by the company in a stock exchange filing after its annual general meeting. The price band for the issue is fixed at Rs 1,125 to Rs 1,175 per share.
 
Promoters namely, Rakesh Gangwal, Shoba Gangwal, Asha Mukherjee and The Chinkerpoo Family Trust, who collectively held around 42% stake as of June, will sell shares through the QIP.
 
Other promoters including InterGlobe Enterprises, Acquire Services Private Ltd., Kapil Bhatia, Rahul Bhatia and Rohini Bhatia will sell shares after 60 days from the completion of the QIP, but not later than November 2018, the stock exchange filing added.
 
The shares of Indigo ended lower by Rs 6.85 per share or 0.57% at Rs 1,196.7 per share on BSE. Meanwhile, Nifty ended at 10,079 level, down by 13 points, while Sensex closed at 32,186 level, up by 27 points in Wednesday’s trading session.

***Note: This is a NSE Chart

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

Advertisements

  • Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
  • Now Save Rs.3150 on your Demat Account ...Click here
  • Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.