Covid-19 impact: IndiGo may shelve approved QIP plan if air travel picks up

QIP is a capital-raising tool through which listed companies can sell shares, fully and partly convertible debentures, or any securities, other than warrants that are convertible into equity shares

India’s largest airline IndiGo may not go ahead with its fundraising initiative if revenue from sales increases.

Last month, the board of directors of the company had approved a plan to raise up to Rs 4,000 crore through qualified institutional placement (QIP).

“The board has passed an enabling resolution for a QIP to raise funds but whether we ultimately will go for it or not depends on how the sales revenue side develops. At this point of time, I would like to say that there is a 50:50 chance of the QIP happening,” IndiGo Chief Executive Officer (CEO) Ronojoy Dutta said, in