Mumbai: IndiGo, India's biggest carrier by passengers carried, is planning a stock sale that may value the airline at $4 billion — almost eight times the market valuation of its largest listed rival.
IndiGo is preparing to file documents for an initial public offering within the next 60 days, aiming to raise $400 million by selling a 10% stake, said a person familiar with the matter. That would give the airline promoted by Rahul Bhatia's InterGlobe Enterprises and aviation industry veteran Rakesh Gangwal a valuation of Rs 25,200 crore.
This valuation is higher than what some industry officials expected. Comparatively, Jet Airways had a market capitalisation of Rs 3,242 crore at the close of trading on Tuesday and SpiceJet was valued at Rs 1,115 crore.
IndiGo's president Aditya Ghosh declined to comment on the company's IPO plans. Although there has been talk of an IndiGo IPO since middle of last year, the airline has been looking to get its timing "just right," the person said, without elaborating.
23/06/15 Anirban Chowdhury/Economic Times
To Read the News in full at Source, Click the Headline
IndiGo is preparing to file documents for an initial public offering within the next 60 days, aiming to raise $400 million by selling a 10% stake, said a person familiar with the matter. That would give the airline promoted by Rahul Bhatia's InterGlobe Enterprises and aviation industry veteran Rakesh Gangwal a valuation of Rs 25,200 crore.
This valuation is higher than what some industry officials expected. Comparatively, Jet Airways had a market capitalisation of Rs 3,242 crore at the close of trading on Tuesday and SpiceJet was valued at Rs 1,115 crore.
IndiGo's president Aditya Ghosh declined to comment on the company's IPO plans. Although there has been talk of an IndiGo IPO since middle of last year, the airline has been looking to get its timing "just right," the person said, without elaborating.
23/06/15 Anirban Chowdhury/Economic Times
