IndiGo, India’s biggest IPO in 3yrs is already a blockbuster! Subscribed 33% on Day 1

The IPO of low-cost airline IndiGo saw a promising start on first day and the company saw QIBs bidding for Rs 97, 45, 590 shares.

The InterGlobe Aviation’s, which is the promoter of IndiGo, qualified institutional investor (QIB) quota was oversubscribed within the first hour.

As per the NSE data, all the bids came in from FIIs.

Reportedly, the company holds market share of 35.3% in aviation sector and allotted shares to 43 anchor investors, including Merrill Lynch, the Singapore government-owned GIC, Goldman Sachs, Ruane, Cunniff & Goldfarb, Fidelity Investments and DSP Blackrock, in a pre-issue share sale.

InterGlobe Aviation shares are on block at a price band of Rs 700-765 per share. It had lowered down the initial share sale size to more than Rs 3,000 crore.