Indigo Announces Rs 1,125-1,175 Band For Planned QIP

InterGlobe Aviation, which operates India’s top airline by market share IndiGo, on Wednesday announced a price band of Rs 1,125 to Rs 1,175 per share for its planned qualified institutional placement (QIP).

It plans to sell 3.36 crore equity shares -a fresh issue of 2.24 crore shares, and an offer for sale of 1.12 crore shares by some promoter entities -in the QIP, the company said in a filing on September 11.

It will be able to raise Rs 3,780 crore at the lower end of the price band and Rs 3,948 crore at the upper end. InterGlobe Aviation closed at Rs 1,196.70 on the Sensex on Wednesday. Read More…

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