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Last Updated Monday October 23 2017 03:28 PM IST

Indigo to issue shares to institutional buyers

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Indigo Indigo to issue shares: Photo | Reuters.

InterGlobe Aviation Ltd, the owner of IndiGo airlines, said its board had approved issuance of equity shares up to 33.6 million to qualified institutional buyers.

The placement includes issue of fresh equity shares of up to 22.4 million and offer for sale of up to 11.2 million shares by promoters, including Rakesh Gangwal and Chinkerpoo Family Trust, InterGlobe said in a stock exchange filing.

As of June 30, Gangwal and Chinkerpoo Family Trust owned 16.83 percent and 15.59 percent stakes in the company respectively, Thomson Reuters data showed.

InterGlobe shares, which closed at 1,215.95 rupees on Monday, has risen 48 percent this year.

Read more at: Latest in Business | Indian banks will lose face globally if capital injection is not hiked from $11 to $65 billion

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