ALSO READInterGlobe Aviation Q1 net up 37% on higher passenger revenue Aviation shares in focus; InterGlobe Aviation hits 52-week high InterGlobe Aviation hits 17-month high IndiGo clears issuance of 33.6 mn equity shares to institutional buyers InterGlobe Aviation falls 7% after IndiGo shows interest in Air India
India's InterGlobe Aviation Ltd, which runs the country's top airline IndiGo, will conduct a share sale to institutional investors on Friday that will raise for the company and its founders as much as Rs 3,945 crore ($616 million).
The company set a price range on Wednesday of Rs 1,125 to Rs 1,175 a share for the sale of up to 33.6 million shares, comprising of 22.4 million new shares and 11.2 million existing shares.
The share sale is aimed at helping the company meet minimum public holding rules.
Citi, JPMorgan and Morgan Stanley are the banks managing the share sale, according to a filing.
InterGlobe's initial public offer in 2015 had raised about 30 billion rupees.