IndiGo raises Rs 3,010 cr in IPO, at upper end of range

InterGlobe Aviation Ltd, owner of Indian budget airline IndiGo, raised Rs 3,010 crore ($458.91 million) in an initial public offering after setting the pricing at 765 rupees per share, according to a prospectus on Monday.

That was at the upper end of a price range of Rs 700-765 per share. The book-building closed last week, having attracted orders worth six times the number of available shares.

InterGlobe's IPO is India's biggest since the listing of around $750 million by Bharti Infratel Ltd in December 2012. It will make its market debut later this month.

On Tuesday, market debutant Coffee Day Enterprises , the operator of India's biggest coffee chain, slumped 17.6 percent below its IPO price of 328 rupees as investors fretted over a generous price tag they said underestimated concerns around its complex structure.

 

($1 = 65.5900 rupees)