[New Delhi]Profit Making Airline Indigo,To Raise Rs 3268 Crores, Fixes Initial Share At Rs 700-765
The much-awaited IndiGo IPO would be a test case for revival of the primary market as the relatively smaller public issue of Coffee Day Enterprises saw a lukewarm initial response even though it managed to sail through on Friday.
Low-Cost Airline IndiGo’s parent InterGlobe Aviation has fixed the price band for its initial share sale at Rs 700-765, through which it could raise up to Rs 3,268 crore.
The initial public offer would open on October 27 and close on October 29, with the allotment for anchor investors scheduled for October 26.
Under the offer, Inter Globe would have fresh issue worth Rs 1,272.2 crore as well as an offer for sale of little over 2.61 crore shares.
The price band has been fixed at Rs 700-765 per share having a face value of Rs 10 each, according to a public announcement. At the upper band, the share sale could fetch little over Rs 3,268 crore.
Among others, Rahul Bhatia would be offloading 3.06 crore shares.
Earlier, the plan was that existing shareholders would sell up to 3.01 crore shares but as per the final offer document, this quantum has been reduced to 2.61 crore shares.
The shares are proposed to be listed on BSE and the NSE.
InterGlobe Aviation runs the country’s biggest airline by market share under the IndiGo brand.
IndiGo is one of the two profit-making domestic airlines with the other one being GoAir.
Last month, InterGlobe Aviation received approval from the Securities and Exchange Board of India (Sebi) for the IPO. The preliminary papers for the share sale were filed in June this year.
At present, only two domestic scheduled carriers — Jet Airways and SpiceJet — are listed while trading in long-grounded Kingfisher Airlines has been suspended for a long time.
Tag: NSE
Budget Carrier Indigo,To Raise Rs 3268 Crores,Fixes Initial Share@Rs 700-765
Market Preparing To Welcome September By Climbing Sensex 350 pts
[Mumbai] Market Preparing To Welcome September By Climbing Sensex 350 pts
The benchmark BSE Sensex rallied over 350 points to 26,582.13 in early trade today on continued buying by investors as the September series in the derivatives segment began on a strong note.
The Nifty of National of Stock Exchange regained the 8,000-mark by rising 113 points.
The 30-share Sensex, which had gained 516.53 points in yesterday’s session, rose further by 350.94 points or 1.33 per cent to 26,582.13 points.
Led by realty, metal, IT and oil & gas, all the sectoral indices of BSE were in the positive zone.
The NSE Nifty reclaimed 8,000-mark by climbing 113.00 points, or 1.42 per cent at 8,061.95.
Among other Asian markets, Japan’s Nikkei gained 2.77 per cent,Shanghai Composite index rose 2.17 per cent, while Hong Kong’s Hang Seng was up 1.66 per cent in early trade.
The US Dow Jones Industrial Average ended 2.27 per cent higher in yesterday’s trade.
NestleIndia Stock Suffered 3% Fall For Popular 2 Minutes Maggi
[Mumbai]Nestle India Stock Suffered 3% Fall on mounting trouble for its popular 2 Minutes Maggi
Extending its downtrend for the second straight session today, stock of Nestle India fell by nearly 3% on mounting trouble for its popular Maggi noodles brand over concerns related to its safety standards.
The stock fell by 2.91 %to settle at Rs 6,010.80 on the BSE. During the day, it slipped 6.31 % to Rs 5,800.10.On the NSE, the stock ended with a loss of 2.94 %at Rs 6,004.45.
In yesterday’s session, the stock had lost nine per cent.
The company’s market valuation has dipped Rs 7,680.44 crore to Rs 57,953.56 crore in two consecutive trading sessions.
Maggi noodles was yesterday banned in Delhi for 15 days, while its sale was stopped in Big Bazaar outlets even as more states ordered testing of its samples.
As food safety concerns over the two-minute Maggi noodles rose, the Centre filed a written complaint before the National Consumer Disputes Redressal Commission (NCDRC) against the Indian arm of the Swiss multinational for alleged violations of safety standards.
The Indian Army issued an advisory yesterday asking its personnel not to consume Maggi noodles and directed its canteen to set aside the existing stock till further orders. This Product Is Banned In Gujrat +Uttraakhand+ Big Bazaar outlets+Walmart.Stores+Army CSD Canteens Also
Recent Comments