Thursday, September 21, 2017

InterGlobe Aviation to raise Rs 2,530 cr by selling shares to institutions

InterGlobe Aviation, the company that operates the country’s largest airline Indigo said the company would raise Rs 2,530 cr by issuing fresh shares.
At the same time, existing shareholders of the company would raise Rs 1,265 cr by selling some of their shares as well, the company said.
The total size of the offering would be around 3,780 cr. The shares would be sold to institutional investors.
A total of 33.58 mln shares would be sold at a price of Rs 1,130 each. Two thirds of the shares are fresh issue, while one third will come from existing shareholders.
It is not clear who the selling shareholders are.
Indigo is considered a model airline due to its enormous success in both growing its revenue as well as remaining profitable even during periods of poor growth in the airline industry.
21/09/17 Trisha Thomas/Ultra