Mumbai: InterGlobe Aviation, which operates low-cost carrier IndiGo Airlines, is expected to launch its initial public offering (IPO) later this month, with October 26-28 as the most likely date, three people familiar with the development told FE.
Sources said the price band is being finalised, but largely settled-upon, based on feedback from investor roadshows held on three continents last month. The company is also mulling a 3-5% discount to retail investors but a final decision along with the minimum bid size will be taken in 7-10 days, one of the sources said.
The promoters and existing shareholders will offload a 15% stake to raise Rs 3,200-3,300 crore ($490-500 million based on current exchange rates). The issues comprises fresh stock worth Rs 1,272 crore, based on the information published in the regulatory filing. In addition, existing shareholders will look to sell 3.01 crore shares worth an estimated Rs 1,900-2,000 crore, sources said.
10/10/15 Ankit Doshi and Malyaban Ghosh/Financial Express
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Sources said the price band is being finalised, but largely settled-upon, based on feedback from investor roadshows held on three continents last month. The company is also mulling a 3-5% discount to retail investors but a final decision along with the minimum bid size will be taken in 7-10 days, one of the sources said.
The promoters and existing shareholders will offload a 15% stake to raise Rs 3,200-3,300 crore ($490-500 million based on current exchange rates). The issues comprises fresh stock worth Rs 1,272 crore, based on the information published in the regulatory filing. In addition, existing shareholders will look to sell 3.01 crore shares worth an estimated Rs 1,900-2,000 crore, sources said.
10/10/15 Ankit Doshi and Malyaban Ghosh/Financial Express
