 "IndiGo's $464 mn IPO fully subscribed")
InterGlobe Aviation, owner of budget airline IndiGo, filled the orderbook for its up to Rs 3,020 crore ($464.33 million) initial public offering in the second day of bookbuilding, signalling strong demand from investors.
InterGlobe had received orders for 32.5 million shares as of 1 pm, according to data from exchanges National Stock Exchange and BSE Ltd.
The owner of IndiGo is selling 30.1 million shares at between Rs 700 to Rs 765 each via the exchanges. At the top end of the band, InterGlobe will be valued at about Rs 27,000 crore, making it the world’s fifth-most valuable low-cost carrier.
It will close its orderbook on Thursday.
The InterGlobe IPO comprises a fresh equity component of about Rs 1,272 crore, which will be used for retirement of debt and purchase of ground equipment. The remaining issue will be accounted for by an offer for sale by the owners.
The InterGlobe IPO is being managed by Citigroup Global Markets, JP Morgan, Morgan Stanley, Barclays Bank, Kotak Mahindra Capital and UBS Securities.
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%