IndiGo board to meet on 7 May to discuss raising funds through QIP

New Delhi: The board of directors of InterGlobe Aviation Limited, which operates the country’s largest airline IndiGo, will meet on 7 May to consider raising funds through a qualified institutional placement (QIP), the company said in a stock exchange notification on Tuesday.

IndiGo had earlier in January shelved plans to raise funds up to ₹4,000 crore through a qualified institutional placement (QIP), opting instead to raise money through sale and lease back (SLB) transactions and other alternative options.

QIPs are a way to issue shares to the public without going through standard regulatory compliance, while SLB is a transaction in which the owner sells the aircraft, and then takes it back on lease from the buyer.