Aviation

IndiGo to launch up to $400 mn IPO on October 26: Sources

MUMBAI

The operator of top Indian airline IndiGo is set to launch an initial public offering worth up to $400 million on Oct. 26, three sources directly involved in the deal said, in what would be the country’s biggest stock market debut in three years.

The share offering by InterGlobe Aviation Ltd IPO-INAI.NS, set to be the first airline listing in nine years, will close on Oct. 28, said the sources, who declined to be named as the information is not yet public, reports Reuters.

The low-cost airline will submit its IPO prospectus with the Indian regulators on Thursday and the indicative price band for the offering is likely to be firmed up next week, the sources told Reuters.

A spokeswoman for IndiGo said the dates for the offering had yet to be finalised.

IndiGo’s share sale will be the second high-profile IPO this month, after Coffee Day Enterprises Ltd, the firm behind India’s biggest coffee chain, opened a public offering on Wednesday aiming to raise up to $176 million.

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