IndiGo may ditch fundraising plan if travel picks up

IndiGo, India’s largest domestic airline, may shelve a planned share sale to raise ₹4,000 crore as it is hopeful that an increase in ticket sales in the coming months will negate the need to bolster its cash reserves.

This is despite predictions that the country’s civil aviation market will suffer a big blow this fiscal from the effects of the coronavirus pandemic that saw one of the world’s strictest lockdowns and a two-month suspension of domestic air travel.

The board of InterGlobe Aviation Ltd had on 10 August approved raising funds through Qualified Institutional Placement (QIP).