Taking off into equity space! IndiGo airline IPO price band likely at Rs. 700-765

IndiGo is planning to launch an initial public offering worth up to US$ 400 mn.

Oct 17, 2015 12:10 IST India Infoline News Service

Indigo-Airlines
IndiGo is planning to launch an initial public offering worth up to US$ 400 mn and has set the price band of its initial public offering of equity at Rs. 700-765 a share, according to reports.
Report says that the IPO will open on October 27 and close on October 29.
The airline is planning to use the proceeds to pay off some outstanding aircraft leasing liabilities and to expand its business, says report.
Under the offer, the company plans to issue fresh shares worth Rs 1,272 crore.
Last month, InterGlobe Aviation received approval from the Securities and Exchange Board of India (Sebi) for the IPO. 
IndiGo is co-owned by the Rahul Bhatia-promoted InterGlobe Enterprises and airline sector veteran Rakesh Gangwal.
The share sale will be the second high-profile IPO this month.

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