scorecardresearch
Tuesday, Nov 29, 2022

IndiGo listed on stock exchange, soars 15 per cent

InterGlobe Aviation had raised Rs 3,008.5 crore at issue price of Rs 765 per share from its recently concluded, over-subscribed initial public offering (IPO).

InterGlobe Aviation, which runs no-frills carrier IndiGo, listed its shares on the stock exchanges on Tuesday and it began trading at Rs 856 and soared to Rs 876 at around 10.50 am.

The equity shares have been listed on the National Stock Exchange (NSE) as well as BSE.

The company had raised Rs 3,008.5 crore at issue price of Rs 765 per share from its recently concluded, over-subscribed initial public offering (IPO).

[related-post]

Subscriber Only Stories
UPSC Key- November 29, 2022: Why you should read ‘Executive Vs Judiciary’...Premium
Delhi Confidential: Ahead of Gujarat polls, BJP worries about NOTA votesPremium
Agrarian Punjab diesel-driven; Delhi opts for cleaner optionsPremium
The shadow of 1979: Iran and Saudi Arabia are fighting Islamism; Pakistan...Premium

This was the biggest IPO in the Indian market since Bharti Infratel’s over Rs 4,000-crore public offer in December, 2012.

Coffee Day Enterprises, which runs Cafe Coffee Day (CCD) outlet, got listed on the exchanges on November 2. The company is currently trading at Rs 272.30, way below its issue price of Rs 328.

The company’s Rs 1,150-crore initial share-sale programme was the biggest in nearly three years when it hit the market, but now it has been overtaken by Indigo’s IPO.

In InterGlobe Aviation’s IPO non-institutional investors category was subscribed 3.57 times. In contrast, the portion set aside for retail investors witnessed 92 per cent subscription, while the employees category was subscribed 13 per cent.

Advertisement

The IPO, which opened for subscription from October 27-29, was subscribed 6.15 times at price band of Rs 700-765 a share.

InterGlobe Aviation, the parent company of IndiGo, had raised Rs 832 crore from anchor investors before its public offering.

IndiGo has a fleet of 98 aircraft and about 75 of them are on operating lease – a business model which has helped it lower costs.

Advertisement

Apart from Coffee Day Enterprises, shares of several companies which got listed on the exchanges this year are trading below their respective issue prices.

Those firms are Adlabs Entertainment, Monte Carlo, MEP Infrastructure Developers, UFO Moviez India, Pennar Engineered Building Systems and Power Mech Projects.

In contrast, shares of Snowman Logistics, VRL Logistics, Syngene International, Sharda Cropchem, Manpasand Beverages, Shemaroo Entertainment, PNC Infratech, Prabhat Dairy, Shree Pushkar Chemicals & Fertilisers, Inox Wind have rewarded their investors with positive returns.

First published on: 10-11-2015 at 09:53:35 am
Next Story

Now, scientists discover ice-spewing volcanoes on Pluto

Latest Comment
Post Comment
Read Comments
Advertisement
Advertisement
Advertisement
Advertisement
close