Stocks

IndiGo surges 15% from IPO price in market debut

PTI MUMBAI | Updated on January 22, 2018

INDIGO   -  Reuters

InterGlobe's IPO is the biggest Indian listing since Bharti Infratel Ltd's $750 million market debut in December 2012.

Shares of IndiGo’s parent InterGlobe Aviation today debuted at Rs 856, a premium of nearly 12 per cent over the issue price of Rs 765 per share.

The stock listed at Rs 856, reflecting a gain of 11.89 per cent as compared to the issue price on BSE. It touched a high of Rs 898, a sharp gain of 17.38 per cent.

At 3.10 pm the share was quoting at Rs 886.65 on the BSE, up 15 per cent on its issue price. On the NSE, the share was trading at Rs 875.65, up 19 points or 2.32 per cent.

At NSE, shares of the company opened at Rs 855.80, a surge of 11.86 per cent from the issue price.

The company commands a market valuation of Rs 31,702.37 crore.

The company’s IPO, the biggest in nearly three years, had elicited robust response as the issue got over-subscribed 6.15 times last month.

This was the biggest IPO in the Indian market since Bharti Infratel’s over Rs 4,000-crore public offer in December, 2012.

InterGlobe has raised Rs 3,008.5 crore at issue price of Rs 765 per share from its recently concluded, over-subscribed initial public offer (IPO).

The IPO, which was available for subscription from October 27-29, was in the price band of Rs 700-765 a share.

In the public offer, qualified institutional buyers (QIBs) category was over-subscribed 17.80 times, while the portion for non institutional investors saw 3.57 times subscription.

The category set aside for retail investors was subscribed 92 per cent.

IndiGo has a fleet of 98 aircraft and about 75 of them are on operating lease — a business model which has helped it lower costs.

Published on November 10, 2015

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