New Delhi: IndiGo, India's largest airline by domestic market share, is preparing to launch an initial public offer (IPO) of at least $400 million or Rs 2,500 crore in first quarter (April-June) of the next financial year (2015-16). According to sources, the Rahul Bhatia-owned airline is expected to net a record profit of up to Rs 2,220 crore this fiscal (2014-15), mainly due to low oil prices.
Sources said bankers are working on the IPO at a frantic pace as current market conditions are favourable for going public, especially for a company with a proven track record like IndiGo. The airline did not offer comments on this issue.
At present, there are only two listed airlines-Jet Airways and SpiceJet. Vijay Mallya's Kingfisher, which shut operations in October 2012, is also listed on the BSE with its Rs 10 face value share quoting at Rs 1.49. However, trading in the Kingfisher stock has been suspended due to penal reasons.
18/03/15 Times of India
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Sources said bankers are working on the IPO at a frantic pace as current market conditions are favourable for going public, especially for a company with a proven track record like IndiGo. The airline did not offer comments on this issue.
At present, there are only two listed airlines-Jet Airways and SpiceJet. Vijay Mallya's Kingfisher, which shut operations in October 2012, is also listed on the BSE with its Rs 10 face value share quoting at Rs 1.49. However, trading in the Kingfisher stock has been suspended due to penal reasons.
18/03/15 Times of India
