InterGlobe, the parent company of IndiGo Airlines (6E, Delhi International), has completed an institutional share offering which has raised INR37.9 billion (USD580 million), of which about two-thirds were newly issued shares. The sale comes to meet regulatory requirements, wherein promoters must reduce their stake in IndiGo to 75% within three years of going public, leaving a free float of 25%.
IndiGo was publicly listed on the BSE in November 2015, and prior to this week's institutional sale InterGlobe held about 85% of the company.
A filing to the Bombay Stock Exchange (BSE) confirmed the Board of Directors' allotment of 33.5 million shares at around INR1,130 (USD17.20) per equity share.
The sale of the shares which were not newly-issued raised INR12.65 billion (USD193 million) for promotors Rakesh Gangwal, Shobha Gangwal, Asha Mukherjee and the Chinkerpoo Family Trust.
- Type
- Base
- Aircraft
- Destinations
- Routes
- Daily Flights
