SINGAPORE/MUMBAI India’s biggest airline IndiGo is set to record a handbill subsequent week for a domestic batch marketplace listing, approaching to lift as many as $400 million, 3 sources with believe of a matter said.
IndiGo, owned by liberality and transport association InterGlobe Enterprises, is aiming to get capitulation from India’s marketplace regulator in August, before attack a marketplace after in a year, one of a sources said.
The timing of a marketplace entrance will, however, count on marketplace conditions, a source said.
The sources declined to be named since they were not certified to pronounce to a media.
IndiGo, founded in 2006, has used a low-cost indication to stay essential and turn India’s largest airline in a marketplace enjoying double-digit expansion in newcomer numbers, though where many carriers remove income since of tough foe and high costs.
The airline, that flies a singular form of narrow-body planes, now carries one in 3 of India’s atmosphere travellers.
In Oct a conduit done a record sequence for 250 Airbus A320neo jets as it seeks to constraint a bigger cut of India’s fast-growing aviation market.
IndiGo has picked Citigroup (C.N), Kotak Investment Banking, Morgan Stanley (MS.N) and JP Morgan Chase (JPM.N) as lead managers for a listing, as good as UBS (UBSG.VX) and Barclays (BARC.L), dual of a sources said.
The inventory will embody a sale of a reduction of primary and delegate shares, one of a sources said.
IndiGo did not immediately respond to a ask for comment.
(Reporting by Anshuman Daga and Abhishek Vishnoi; Writing by Tommy Wilkes; Editing by Sumeet Chatterjee and David Holmes)
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