IndiGo approves Rs 7,294 crore investment in InterGlobe Aviation Fin Services to acquire aircraft assets
IndiGo has approved a capital investment of Rs 7,294 crore in its wholly owned subsidiary, InterGlobe Aviation Financial Services IFSC Pvt. Ltd. (IndiGo IFSC), the budget carrier informed the exchanges on Friday.
The investment, according to the company, will be made through a mix 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 will be used primarily for the acquisition of aviation assets, enabling the low-cost carrier to directly own aircraft.
