InterGlobe Aviation Raises Rs 3,008 Crore From IPO

IndiGo raises Rs 3,008.5 crore from IPO. This is the biggest IPO in the Indian market since Bharti Infratel.

IndiGo has raised Rs 3,008.5 crore from IPO. (Photo: PTI)

IndiGo’s parent InterGlobe Aviation has raised Rs 3,008.5 crore at the issue price of Rs 765 per share from its recently concluded over-subscribed IPO.

The public issue closed on October 29 after three days of bidding in a price band of Rs 700-765. The company has now fixed the issue price at Rs 765 per share, the upper end of the price band.

The public offer of InterGlobe Aviation, the biggest IPO in nearly three years, elicited robust response as the issue got over-subscribed 6.15 times. The quota reserved for qualified institutional buyers (QIBs) saw tremendous response with over-subscription of 17.80 times.

Non-institutional investors category was over-subscribed 3.57 times. In contrast, the portion set aside for retail investors witnessed 92 per cent subscription, while the employees category was subscribed 13 per cent.

This is the biggest IPO in the Indian market since Bharti Infratel’s over Rs 4,000-crore public offer in December, 2012.