Indigo to consider fundraising plan via capital market instruments on Aug 10; stock trades in red

During June 2020 (Q1FY21) period, Indigo posted a net loss of Rs2,844cr against a profit of Rs1,203.1cr a year ago same period.

Aug 06, 2020 10:08 IST India Infoline News Service

Indigo-Airlines
Interglobe Aviation (IndiGo) on Thursday witnessed volatility after the airline announced that the board will consider a fundraising plan through various instruments next week. On Sensex, Indigo stock opened at Rs975.10 per piece and even touched an intraday high of Rs976.90 per piece. However, the stock gave away early gains and was trading in the red.

At around 10 AM, Indigo stock was performing at Rs965 per piece down 0.47%. The stock has touched an intraday low of Rs963 per piece as well.

Indigo on Wednesday intimated exchanges that, a meeting of the Board of Directors of our Company (“Board”) is proposed to be held on August 10, 2020, to further discuss and consider, among other things, raising of funds through equity, debt and/or any other permitted means, in accordance with the relevant provisions of applicable law and subject to the approval of the Company’s shareholders and receipt of applicable regulatory approvals, wherever required.

During June 2020 (Q1FY21) period, Indigo posted a net loss of Rs2,844cr against a profit of Rs1,203.1cr a year ago same period. In the quarter, revenue from operations was at Rs766.7cr declining by 91.9% against 90.9% reduction in capacity compared to the same period last year.

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