NEW DELHI : The board of directors of InterGlobe Aviation Limited, which operates the country's largest domestic airline IndiGo has approved raising upto ₹3,000 crore through a Qualified Institutions Placement (QIP) process, the company said in a stock exchange notification on Monday. InterGlobe Aviation Limited's board had earlier on 7 May met to consider raising funds through a QIP process. Interestingly, IndiGo had earlier in January shelved plans to raise funds up to ₹4,000 crore through a qualified institutional placement (QIP), opting instead to raise money through sale and lease back (SLB) transactions and other alternative options. Fewer Indians took to the skies for the sixth week in a row for the week to 8 May. However, despite being better placed to withstand the latest downturn in traffic, IndiGo will also feel a very significant impact, it added.

Source: Mint May 10, 2021 14:03 UTC