IndiGo's parent firm approves $45 million investment in IFSC subsidiary

InterGlobe Aviation, the parent of the country's largest airline IndiGo, will invest up to $45 million in its subsidiary InterGlobe Aviation Financial Services IFSC Pvt Ltd.

The investment was approved by InterGlobe Aviation's board during its meeting on Wednesday.

In one or more tranches, the investment of "up to Rs 3,940 million ( $45 million approximately)", will be made in the IFSC subsidiary, according to a regulatory filing.

"This investment will be utilised by IndiGo IFSC towards financing of aviation assets, repayment of its outstanding loan and for other general corporate purposes," the filing said.

IndiGo IFSC, engaged in aircraft and aircraft engine leasing and providing financial services for such transactions, was incorporated in October 2023.