InterGlobe Aviation will take measures to reduce its stake in IndiGo Airlines (6E, Delhi International) in order to comply with Indian public company regulations. InterGlobe currently holds 85% of the airline, but must reduce that to 75% within three years of IndiGo going public. The Board of InterGlobe will meet on July 31 to determine how best to divest itself of its excess shares.
IndiGo was publicly listed on the Mumbai Stock Exchange in November 2015, with InterGlobe putting up 12% of its stock. The debut raised INR30.01 billion (USD460 million).
Options for InterGlobe include "a follow on public offer and/or an institutional placement programme which may comprise of a fresh issue and/or an offer for sale".
The low-cost carrier enjoys prime position in the Indian aviation market with 31.85% of all air capacity, and almost 40% of domestic capacity. It operates to destinations throughout India as well as to Bangkok Suvarnabhumi, Doha Hamad International, Dubai International, Kathmandu, Muscat, Sharjah, and Singapore Changi with an all-Airbus fleet of 113 A320s and twenty-two A320neos.
