Sensing possible changes to the rules for Indian carriers looking to fly abroad, one of the country’s profitable carriers Indigo Airline may soon file a draft red herring prospectus with the market regulator Securities and Exchange Board of India. Experts said this may turn out to be the biggest IPO in the country’s civil aviation sector.
According to market buzz, the airline is looking to raise up to Rs 2,000-2,400 crore through the initial public offer (IPO) route. The money raised will be utilised to fund its fleet expansion. The carrier may look at acquiring some long-haul aircrafts to service destinations in North and South America, Europe, Australia and Africa among others.
According to moneycontrol.com, six bankers - Citigroup, Kotak, Morgan Stanley, JP Morgan Chase, UBS & Barclays - have been appointed as book runners for the IPO. “The money raised via the IPO will be used to fund expansion plans and increase IndiGo's presence globally,” the report said. The listing process is expected to be completed by the fourth quarter of calendar year 2015. The pricing of the IPO will depend on the timeline as to when it hits the market post approvals.
15/06/15 Ashish Sinha/Business World
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According to market buzz, the airline is looking to raise up to Rs 2,000-2,400 crore through the initial public offer (IPO) route. The money raised will be utilised to fund its fleet expansion. The carrier may look at acquiring some long-haul aircrafts to service destinations in North and South America, Europe, Australia and Africa among others.
According to moneycontrol.com, six bankers - Citigroup, Kotak, Morgan Stanley, JP Morgan Chase, UBS & Barclays - have been appointed as book runners for the IPO. “The money raised via the IPO will be used to fund expansion plans and increase IndiGo's presence globally,” the report said. The listing process is expected to be completed by the fourth quarter of calendar year 2015. The pricing of the IPO will depend on the timeline as to when it hits the market post approvals.
15/06/15 Ashish Sinha/Business World
