IndiGo launches India’s largest IPO in three years | business | Hindustan Times
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IndiGo launches India’s largest IPO in three years

India’s largest carrier IndiGo launched the country’s biggest initial public offering (IPO) in three years Tuesday, seeking to raise $460 million to extend its dominance of the budget airline sector

business Updated: Oct 27, 2015 11:34 IST
A file photo of IndiGo Airlines A320 aircraft parked on the tarmac at Bengaluru International Airport in Bangalore. (Reuters Photo)
A file photo of IndiGo Airlines A320 aircraft parked on the tarmac at Bengaluru International Airport in Bangalore. (Reuters Photo)

India’s largest carrier IndiGo launched the country’s biggest initial public offering (IPO) in three years Tuesday, seeking to raise $460 million to extend its dominance of the budget airline sector.

IndiGo, India’s only consistently profitable airline, is selling shares at between 700 rupees ($11) and 765 rupees each and plans to use the money raised to expand operations and trim debt.

The share sale will run for three days and is the largest in India since December 2012, when telecom infrastructure provider Bharti Infratel raised 41.7 billion rupees, equivalent to $638 million today.

IndiGo’s flotation comes two weeks after Cafe Coffee Day raised $176 million in a share offering as India’s long-suffering IPO market enjoys a mini-resurgence.