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IndiGo Records Rs 3,174 Crore Loss In June Quarter
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InterGlobe Aviation Limited to raise Rs 3000 crores
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COVID-hit Indian airline IndiGo to weigh raising funds through QIP
Visual from The Mint
May 4, 2021
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 ($542 million) 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. Such a deal typically removes the aircraft, and its associated debt, from the carrier’s balance sheet.