InterGlobe Aviation shareholders approve plan to raise Rs 3,000 crore
Shareholders of InterGlobe Aviation, parent of the country’s largest airline IndiGo, have approved a proposal to raise up to Rs 3,000 crore.
The funds would be raised through the Qualified Institutional Placement route.
The remote e-voting on the proposal commenced on May 27 and ended on June 25. Shareholders of the company have cleared the proposal, it said in a regulatory filing on Saturday.
Amid the airline industry facing strong headwinds due to the coronavirus pandemic, the company’s board, on May 10, gave its nod to raise up to Rs 3,000 crore through sale of shares to institutional investors.
