Bengaluru: Standard Chartered Private Equity , along with Credit Suisse and DBS Group, are offloading a 37% stake in travel outsourcing firm InterGlobe Technology Quotient ITQ), a strategic business unit of InterGlobe Enterprises that operates budget carrier IndiGo, in a deal va uing the company at $350$400 million. The company has mandated Citigroup to manage the deal. The three nvestors had bought a little over one-third stake in the Gurgaon-based travel technology solutions company or $140 million in 2008.
The divestment in ITQ comes close on the heels of nterGlobe Aviation getting Sebi's approval to raise Rs 2,500 crore through an initial public offering (IPO). Av ation entrepreneur duo Kapil Bhatia and his son Rahul Bhatia own 64% in ITQ, while DBS Nominees, Marina Private Equity Singapore and Unity Stone Investments own 10%, 18.75% and 7.5% respectively.
16/09/15 Shilpa Phadnis/Times of India
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The divestment in ITQ comes close on the heels of nterGlobe Aviation getting Sebi's approval to raise Rs 2,500 crore through an initial public offering (IPO). Av ation entrepreneur duo Kapil Bhatia and his son Rahul Bhatia own 64% in ITQ, while DBS Nominees, Marina Private Equity Singapore and Unity Stone Investments own 10%, 18.75% and 7.5% respectively.
16/09/15 Shilpa Phadnis/Times of India
