IndiGo allocates USD 820 million towards purchase of aviation assets

IndiGo, India's preferred airline, has approved a capital investment of USD 820 million (~INR 72,940 million) in its wholly owned subsidiary, InterGlobe Aviation Financial Services IFSC Private Limited ("IndiGo IFSC"). The Investment will be made through combination of equity shares and 0.01% Non-Cumulative Optionally Convertible Redeemable Preference Shares (OCRPS), in one or more tranches. The funds raised by IndiGo IFSC shall be primarily deployed towards acquisition of aviation assets, thereby enabling ownership of aircraft.

IndiGo has historically maintained a fleet structure predominantly reliant on operating leases. In recent years, the organization has undertaken a strategic development towards a more balanced ownership structure and diversified forms of financing. This move reflects IndiGo's commitment to prudent capital allocation and sustainable value creation for all stakeholders.

Shares of InterGlobe Aviation Limited was last trading in BSE at Rs. 5840.25 as compared to the previous close of Rs. 5786.85. The total number of shares traded during the day was 17967 in over 2954 trades.

The stock hit an intraday high of Rs. 5871.65 and intraday low of 5757.00. The net turnover during the day was Rs. 104696943.00.

Source : Equity Bulls

Keywords

InterGlobeAviation INE646L01027 INDIGO Airlines CapitalInvestment