IndiGo shares soar on stock market debut
Shares for the company that runs the airline surged by as much as 12% on the Bombay Stock Exchange after listing.
Shares for InterGlobe Aviation Ltd, the operator of India’s biggest private airline IndiGo, opened at Rs 855.80 on Tuesday, up 12% from its initial public offering of Rs 765. The IPO received a strong response and was oversubscribed six times because of strong demand, closing at Rs 3,010 crore ($453.52 million) on October 29. Its equity shares were listed on the National Stock Exchange as well as the BSE on Tuesday morning. InterGlobe Aviation had raised Rs 832 crore from anchor investors before its public offering.
Jet Airways (India) Ltd and Spice Jet Ltd, also listed on the bourses, showed a downward trend after IndiGo’s shares opened on Tuesday. InterGlobe’s IPO is the biggest Indian listing since Bharti Infratel Ltd's $750 million market debut in December 2012.