Indigo raises Rs 3,010 crore in IPO

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Indigo raises Rs 3,010 crore in IPO

According to a prospectus on Monday, InterGlobe Aviation Ltd, owner of Indian budget airline IndiGo, raised Rs 3,010 crore ($458.91 million) in an initial public offering after setting the pricing at Rs 765 per share.

That was at the upper end of a price range of Rs 700 to Rs 765 per share. The book-building closed last week, having attracted orders worth six times the number of available shares.

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InterGlobe's IPO is India's biggest since the listing of around $750 million by Bharti Infratel Ltd in December 2012. It will make its market debut later this month.

On Tuesday, market debutant Coffee Day Enterprises slumped 17.6 per cent below its IPO price of Rs 328 as investors fretted over a generous price tag they said underestimated concerns around its complex structure.

Image credit: Indiatimes