 "IndiGo jumps nearly 20% in two days")
Shares of InterGlobe Aviation have extended its gain and are surging 10% at Rs 1,009 on the BSE after making a spectacular trading debut on Tuesday with shares in its parent company InterGlobe Aviation surging as high as 18% above their listing price. The IPO solidified IndiGo’s grip on one of the world’s fastest growing aviation markets.
IndiGo's IPO - first by an airline in nearly a decade - catapulted its two promoters and co-founders Rahul Bhatia and Rakesh Gangwal to the country's billionaire club. IndiGo raised fresh equity of Rs 1,272 crore in IPO, which it plans to utilise towards retiring debt and for acquiring ground equipment.
Meanwhile, the airline is set to launch its Bengaluru-Kolkata flights via Biju Patnaik International Airport (BPIA) of Odisha capital starting January 1, 2016.
The stock opened at Rs 921 and touched a high of Rs 1,033 on the BSE. A total of approximately 1.5 million shares changed hands on the BSE so far.