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India's IndiGo raises US$459m in IPO, at upper end of range

[MUMBAI] InterGlobe Aviation Ltd, owner of Indian budget airline IndiGo, raised 30.1 billion rupees (S$643 million) in an initial public offering after setting the pricing at 765 rupees per share, according to a prospectus on Monday.

That was at the upper end of a price range of 700 rupees to 765 rupees per share. The book-building closed last week, having attracted orders worth six times the number of available shares.

InterGlobe's IPO is India's biggest since the listing of around US$750 million by Bharti Infratel Ltd in December 2012. It will make its market debut later this month.

On Tuesday, market debutant Coffee Day Enterprises, the operator of India's biggest coffee chain, slumped 17.6 per cent below its IPO price of 328 rupees as investors fretted over a generous price tag they said underestimated concerns around its complex structure.


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