IndiGo raises Rs3,008 cr in IPO, at Rs765 per share

InterGlobe Aviation Ltd, owner of budget airline IndiGo, raised Rs3,008 crore ($458.91 million) in an initial public offer (IPO) at a price of Rs765 per share, the upper end of the price range, according to a prospectus issued on Monday.

The book-building, which closed last week, attracted orders worth six times the number of shares on offer. The public issue closed on 29 October after three days of bidding in a price band of Rs700-765 a share.

The public issue of 39,546,814 equity shares consisted of a fresh issue of 16,722,796 equity shares aggregating to Rs1,272 crore by the company and an offer for sale of 22,824,018 equity shares by the selling shareholders aggregating to Rs1,736 crore.

The issue would constitute 11.0 per cent of the post-issue paid-up capital of the company.

The quota reserved for qualified institutional buyers (QIBs) saw tremendous response with over-subscription of 17.80 times.

Non-institutional investors category was over-subscribed 3.57 times.

However, the portion set aside for retail investors witnessed 92 per cent subscription, while the employees category was subscribed 13 per cent.

InterGlobe's IPO is India's biggest since Rs4,000-crore public offer by Bharti Infratel Ltd in December 2012.

InterGlobe Aviation has raised Rs832 crore from anchor investors by allotting shares at the upper limit of price band at Rs765 apiece.