IndiGo’s IPO is a hit even as it gets first time investors in to the Indian IPO market!

IndiGo parent InterGlobe Aviation’s IPO, which was subscribed 87% of its Rs 3,018-crore issue size on the opening day, was not the only first timer.

There were a plethora of investors who participated in the Indian IPO for the first time.

The first time investors, who invested in the world's biggest and most profitable budget airlines, are Neuberger Berman, APG, Harvard Management Company, Davis International Fund, Hutchin Hill, Acacia Partners LP and Columbia Threadneedle.

Reportedly, majority of these investors are raked in global low fare carriers.

"A new investor is typically more cagey about putting in money than one with experience. These names show investors believe in IndiGo's business model and India's growth story," Prithvi Haldea, chairman and managing director of Prime Database, a tracker of primary markets told ET.

Other investors who invested in the IPO included Merrill Lynch, Singapore government-owned GIC, Goldman Sachs, Fidelity Investments, DSP Blackrock and Wellington. The anchor book totalled Rs 832 crore at the top end of the price band at Rs 765 apiece.