Mumbai: IndiGo Monday announced its board has approved the raising funds up to Rs 3,000 crore via a qualified institutional placement of shares. The airline last Tuesday said it would consider such a proposal.
IndiGo’s decision comes as the aviation industry continues to be a hit by a catastrophic second wave of Covid19 infections. The current onslaught of the virus has made the country clock record breaking numbers and killed thousands as the healthcare infrastructure in the country has crumbled. Travel has been hit and will continue to slump.
The airline had last August announced the planned raising of Rs 4,000 crore via a QIP.
IndiGo’s peer GoAir aims to raise Rs 3,000 crore via an IPO “this summer”.
National carrier Air India is on the block to be privatised.
