Mumbai: IndiGo is expected to file IPO papers with the Sebi by May to raise up to Rs 2,500 crore, industry sources said.
A source in the investment banking industry said, “IndiGo is likely to file the IPO documents with Sebi by May and may mop up around USD 400 million or about Rs 2,500 crore from the process.” The airline, which has 37.1 per cent market share, operates about 600 flights a day with 91 aircraft. It is understood to have roped in six merchant bankers –Barclays, Citigroup, JP Morgan Chase, Kotak Investment Banking, Morgan Stanley and UBS Securities– for the issue, sources said.
IndiGo President Aditya Ghosh said there was no any new development on the IPO front. “No new developments there,” he said. Sources, however, said the date for IPO is yet to be fixed. The privately held IndiGo is one of the two domestic carriers making profit. The other profitable airline is GoAir.
