Covid-19 impact: IndiGo to raise up to $534 million through share sale

Interglobe Aviation Ltd, which runs India’s largest airline IndiGo, said on Monday it will raise up to Rs 4,000 crore ($533.70 million) through the sale of shares to institutional investors, as it looks to manage cash during the Covid-19 pandemic which has hit its operations.

The virus outbreak caused Interglobe to report its biggest ever loss last month. The company had also announced separate plans to raise at least $268 million through the sale and leaseback of planes and other assets.