InterGlobe Aviation to set up subsidiary for financing aviation assets
InterGlobe Aviation, the parent of the country’s largest airline IndiGo, will set up a subsidiary with an investment of up to Rs 30 crore for financing aviation assets.
The wholly-owned subsidiary will be set up in GIFT City.
The company’s board on Monday approved the proposal to incorporate a wholly-owned subsidiary with an investment of “up to Rs 30 crore in one or more tranches”.
Besides, it will issue corporate guarantees of up to USD 996 million or an equivalent amount in Indian rupees or any other currency, to secure the payment obligations of the wholly-owned subsidiary, according to a regulatory filing.
