No-frills carrier IndiGo is planning to file documents for an initial public offering within the next 60 days, aiming to raise $400 million by selling a 10 per cent stake, according to The Economic Times report.
Citing a person familiar with the matter, the Economic Times report said that the stock sale that may value the airline at $4 billion — almost eight times the market valuation of its largest listed rival.
The IPO move will give the airline promoted by Rahul Bhatia’s InterGlobe Enterprises and aviation industry veteran Rakesh Gangwal a valuation of Rs 25,200 crore.
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.
According to the report, the company will file a comprehensive IPO proposal known as a red herring prospectus with the Securities & Exchange Board of India, the capital markets regulator. Sebi usually takes 6-8 months to approve such documents, which means IndiGo’s IPO may possibly be pushed to next year.
24/06/15 Financial Express
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Citing a person familiar with the matter, the Economic Times report said that the stock sale that may value the airline at $4 billion — almost eight times the market valuation of its largest listed rival.
The IPO move will give the airline promoted by Rahul Bhatia’s InterGlobe Enterprises and aviation industry veteran Rakesh Gangwal a valuation of Rs 25,200 crore.
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.
According to the report, the company will file a comprehensive IPO proposal known as a red herring prospectus with the Securities & Exchange Board of India, the capital markets regulator. Sebi usually takes 6-8 months to approve such documents, which means IndiGo’s IPO may possibly be pushed to next year.
24/06/15 Financial Express
