IndiGo's order, also the biggest-ever in terms of number of aircraft, would be for 250 narrow-body A320 Neo (new engine option) planes.
The country's leading low-cost airline, which is gearing up for an initial share sale, inked the aircraft purchase agreement with Airbus on August 15.
In October last year, IndiGo had signed an MoU to acquire 250 of the latest Airbus A-320 Neo aircraft worth nearly USD 26 billion or Rs 1.55 lakh crore, as per the list price.
"The additional fuel efficient A320neo aircraft will enable us to continue to bring our low fares and courteous, hassle-free service to more customers and markets and will create more job opportunities and growth," IndiGo President Aditya Ghosh in a statement.
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IndiGo has already taken delivery of all 100 Airbus A320 planes which it had ordered in 2005, the airline said. With the latest acquisition, IndiGo has ordered a total of 530 A320 family aircraft.
The A320 Neo comes with many features, including latest generation engines and large Sharklet wing-tip devices, which are 15 per cent fuel-efficient from day one and 20 per cent by 2020, the statement said.
IndiGo's latest order also reflects high passenger potential in the Indian aviation market, which is projected to be among the top three in the coming years.