Aviation stocks edge higher as InterGlobe Aviation raises funds from anchor investors

Two aviation stocks rose 1.69% to 5.74% at 11:19 IST on BSE after InterGlobe Aviation, the owner of India's largest passenger airline IndiGo raised Rs 832.03 crore from a clutch of anchor investors ahead of its IPO starting today, 27 October 2015.

Jet Airways (India) (up 1.69% at Rs 405.50) and SpiceJet (up 5.74% at Rs 44.20) edged higher.

Meanwhile, the S&P BSE Sensex was down 141.23 points or 0.52% at 27,220.73.

InterGlobe Aviation, the owner of India's largest passenger airline IndiGo yesterday, 26 October 2015, raised Rs 832.03 crore from a clutch of anchor investors by selling shares at the upper end of Rs 700-765 per share price band of its initial public offer (IPO) starting today, 27 October 2015. The issue closes on Thursday, 29 October 2015. The issue comprises of fresh issue of equity shares aggregating Rs 1272.20 crore and offer for sale of up to 2.28 crore shares by existing shareholders of the company.

Jet Airways (India) reported net profit of Rs 221.70 crore in Q1 June 2015 as against net loss of Rs 217.65 crore in Q1 June 2014. Net sales rose 11.5% to Rs 4834.50 crore in Q1 June 2015 over Q1 June 2014.

SpiceJet reported a net profit of Rs 71.85 crore in Q1 June 2015 as against net loss of Rs 124.10 crore in Q1 June 2014. Net sales declined 34.2% to Rs 1103.24 crore in Q1 June 2015 over Q1 June 2014.

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