IndiGo, the country’s top domestic airline, has hired Citigroup Global Markets and Bank of America (BofA) to advise on its proposed qualified institutional placement (QIP), said two people with direct knowledge of the matter, requesting anonymity.
The final size of the offering estimated at ₹3,000-6,000 crore will depend on the allotment price of the shares, said one of the two people cited above. The QIP could result in a stake dilution of at least 10% for existing shareholders, including the airline’s promoters, the person said.
IndiGo, run by InterGlobe Aviation Ltd, had a market capitalization of ₹37,377.19 crore on Monday, according to BSE data.
