MUMBAI (Reuters) - The operator of top Indian airline IndiGo has set the indicative price band for its initial public offering of shares at between 700 rupees ($10.83)and 765 rupees ($11.83) apiece, three sources directly involved in the transaction said.
At the top end of the price band, the offering by InterGlobe Aviation Ltd will raise as much as $510 million and value the company at about $4.2 billion, said the sources, who declined to be named as the information is not public yet.
The low-cost airline's IPO will open on Oct. 27 and close on Oct. 29, according to the company's share sale prospectus issued on Friday. The portion for IPO cornerstone investors will open on Oct. 26, said the sources.
A spokeswoman for IndiGo did not immediately respond to a request for comment.
($1 = 64.6650 Indian rupees)
(Reporting by Sumeet Chatterjee, editing by David Evans)
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