IndiGo IPO : Plans to raise Rs 2500 crore

by khalid on 13/10/2010 · 0 comments

IndiGo, one of India’s Budget carriers, plans to raise Rs 2500 crore through an IPO by most likely in first half of next year. Things are in initial stage and company’s shareholders will take a final decision on the IPO only by November.

Budget carrier Indigo which reported one of the highest profits in the airline sector in recent years is also planning to bring the biggest IPO amongst airlines. Till now Jet Airways IPO was the biggest in terms of size where the airline raised over Rs 1800 crore.

IndiGo, has grown rapidly and grabbed one of the biggest shares amongst low cost airlines in just four years. The company reported revenues of Rs. 2664.5 crore and a profit of Rs. 551 crore last fiscal. Indigo at the moment is sitting on cash reserves of Rs 700 crore. Indigo has already got government approval for buying additional 150 aircrafts.

Rahul Bhatia is Managing Director of the Airlines and the slogan of the company is “Go IndiGo”. The airline has also acquired 3 parking spots in Indira Gandhi International Airport and Chhatrapati Shivaji International Airport.

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