 "IndiGo jumps nearly 20% in two days")
Shares of InterGlobe Aviation have extended its gain and are surging 10% at Rs 1,009 on the BSE after making a spectacular trading debut on Tuesday with shares in its parent company InterGlobe Aviation surging as high as 18% above their listing price. The IPO solidified IndiGo’s grip on one of the world’s fastest growing aviation markets.
IndiGo's IPO - first by an airline in nearly a decade - catapulted its two promoters and co-founders Rahul Bhatia and Rakesh Gangwal to the country's billionaire club. IndiGo raised fresh equity of Rs 1,272 crore in IPO, which it plans to utilise towards retiring debt and for acquiring ground equipment.
Meanwhile, the airline is set to launch its Bengaluru-Kolkata flights via Biju Patnaik International Airport (BPIA) of Odisha capital starting January 1, 2016.
The stock opened at Rs 921 and touched a high of Rs 1,033 on the BSE. A total of approximately 1.5 million shares changed hands on the BSE so far.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%