IndiGo set to launch Rs 2,500cr IPO

IndiGo, India's largest airline by domestic market share, is preparing to launch an initial public offer (IPO) of at least $400 million or Rs 2,500 crore in first quarter (April-June) of the next financial year (2015-16). According to sources, the Rahul Bhatia-owned airline is expected to net a record profit of up to Rs 2,220 crore this fiscal (2014-15), mainly due to low oil prices.

In This Pic : IndiGo set to launch Rs 2,500cr IPO

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Sources said bankers are working on the IPO at a frantic pace as current market conditions are favourable for going public, especially for a company with a proven track record like IndiGo. The airline did not offer comments on this issue.

In This Pic : IndiGo set to launch Rs 2,500cr IPO

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At present, there are only two listed airlines-Jet Airways and SpiceJet. Vijay Mallya's Kingfisher, which shut operations in October 2012, is also listed on the BSE with its Rs 10 face value share quoting at Rs 1.49. However, trading in the Kingfisher stock has been suspended due to penal reasons.

In This Pic : IndiGo set to launch Rs 2,500cr IPO

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IndiGo is going public to fund its ambitious expansion plan as it has placed orders for 530 Airbus A 320s worth $48 billion with an option for 100 more planes worth $10.2 billion.

In This Pic : IndiGo set to launch Rs 2,500cr IPO

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With both Jet and SpiceJet deep in the red and the latter trying to make a comeback under its co-founder and now promoter Ajay Singh, IndiGo will be the only profitable airline on the Indian bourses. The airline has been preparing for the IPO since last year when it restructured its shareholding to become eligible for foreign direct investment (FDI).

In This Pic : IndiGo set to launch Rs 2,500cr IPO

Pic Courtesy : BCCL - Non Copyright

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