IndiGo Airlines (6E, Delhi International) is looking to raise as much as INR25 billion (USD400 million) through an IPO tentatively scheduled for the second quarter of this year. According to the Times of India, the budget carrier has been preparing to go public since last year when a restructuring of its shareholding made it eligible for foreign direct investment (FDI).

In July 2014, India's Foreign Investment Promotion Board (FIPB) gave Indigo the conditional go-ahead to reclassify co-founder Rakesh Gangwal's US-based Caelum Investments' 47.9% stake in the airline from Foreign Direct Investment (FDI) status, to investment under "non-resident Indian head". The move effectively freed up a 49% tranche in the carrier which could be used to lure in interested foreign investors.

Thus far, Qatar Airways (QR, Doha Hamad International) has expressed a keen interest in the airline with CEO Akbar al Baker stating in January that his airline would acquire equity in IndiGo should the Indian carrier offer a 49% stake to it.

India's largest airline by domestic market share, IndiGo operates a fleet of 96 A320-200s with plans to acquire an additional 250 A320neo Family jets over the next few years.