InterGlobe Aviation Ltd, which owns and operates India’s most successful and profit-making airline IndiGo, made an impressive debut on the bourses on Tuesday with its share price surging by over 15 percent in early trade.
IndiGo is the second big homegrown Indian consumer brand to be taken public after coffee baron VG Siddhartha listed his diversified entity Coffee Day Enterprises Limited (CDEL), which runs India’s biggest cafe retail chain Café Coffee Day (CCD).
CDEL made its debut on the bourses only a week ago, but met with a lacklustre response from the markets. On November 2, when CDEL’s shares were listed on the Bombay Stock Exchange, it ended the day at Rs 270.15 apiece, down 17.64 percent from its issue price of Rs 328.
On Tuesday morning, CDEL’s shares were trading at Rs 276.10 apiece, up 1.4 percent over the previous day’s closing price. On the other hand, InterGlobe Aviation’s shares had already hit a high of Rs 898 on Tuesday morning after its listing and continued to trade at a 15 percent premium over its list price of Rs 765.
10/11/15 Anshul Dhamija/Forbes
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IndiGo is the second big homegrown Indian consumer brand to be taken public after coffee baron VG Siddhartha listed his diversified entity Coffee Day Enterprises Limited (CDEL), which runs India’s biggest cafe retail chain Café Coffee Day (CCD).
CDEL made its debut on the bourses only a week ago, but met with a lacklustre response from the markets. On November 2, when CDEL’s shares were listed on the Bombay Stock Exchange, it ended the day at Rs 270.15 apiece, down 17.64 percent from its issue price of Rs 328.
On Tuesday morning, CDEL’s shares were trading at Rs 276.10 apiece, up 1.4 percent over the previous day’s closing price. On the other hand, InterGlobe Aviation’s shares had already hit a high of Rs 898 on Tuesday morning after its listing and continued to trade at a 15 percent premium over its list price of Rs 765.
10/11/15 Anshul Dhamija/Forbes
