IndiGo owner InterGlobe plans October 26 IPO

Public offer is likely to raise Rs 2,500 crore

IndiGo owner InterGlobe plans October 26 IPO

One of the most awaited and perhaps hyped initial public offering, Interglobe Aviation, which owns IndiGo Airlines, is likely to open on October 26, according to sources.

“The IPO price could be in the range of Rs 400-Rs 418 per share, and is likely to open on October 26 and close on October 28. Retail investors are likely to get a discount of Rs 13 per share,” sources close to the development told Deccan Herald.

Interglobe IPO will be biggest issue by a private player to hit the market in nearly six years. According to the red herring prospectus of the company, the issue comprises of a fresh issue of up to Rs 1,272.2 crore and an offer for sale of up to 3.01 crore shares. The fresh issure and offer for sale are likely to raise around Rs 2,500 crore at the higher end of the price band, according to sources.

The promoters of the company include Rahul Bhatia, Rakesh Gangwal, Acquire Services and Interglobe Enterprises. The last biggest issue was by JSW Energy, which hit the markets in December 2009 to raise Rs 2,700 crore. As far as public sector companies are concerned, the last big issue was of Oil India, which had raised nearly Rs 2,780 crore through its IPO in Sept 2009.

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