 "IndiGo's $464 mn IPO fully subscribed")
InterGlobe Aviation, owner of budget airline IndiGo, filled the orderbook for its up to Rs 3,020 crore ($464.33 million) initial public offering in the second day of bookbuilding, signalling strong demand from investors.
InterGlobe had received orders for 32.5 million shares as of 1 pm, according to data from exchanges National Stock Exchange and BSE Ltd.
The owner of IndiGo is selling 30.1 million shares at between Rs 700 to Rs 765 each via the exchanges. At the top end of the band, InterGlobe will be valued at about Rs 27,000 crore, making it the world’s fifth-most valuable low-cost carrier.
It will close its orderbook on Thursday.
The InterGlobe IPO comprises a fresh equity component of about Rs 1,272 crore, which will be used for retirement of debt and purchase of ground equipment. The remaining issue will be accounted for by an offer for sale by the owners.
The InterGlobe IPO is being managed by Citigroup Global Markets, JP Morgan, Morgan Stanley, Barclays Bank, Kotak Mahindra Capital and UBS Securities.