At least nine banks are vying for a role in the upcoming public offer of
India's largest and most profitable airline, according to local
reports.
IndiGo, a low-cost carrier with a 32 percent share of the Indian market, is gearing up for a $400 million initial public offering, or IPO, in the second half of 2015. And sometime over the next two weeks, Indigo’s management will be pitched by banks, both foreign and local, for the role of principal banker. The airline, which was founded in 2006, is the only profitable airline in India's crowded aviation sector, which has recently seen the entry of foreign players like AirAsia and a joint-venture between India's Tata Group and Singapore Airlines.
“The time is approaching to leverage this achievement and an IPO is likely in FY2015, possibly in the third quarter. If it proceeds, it is expected to be the largest ever aviation IPO in India,” Capa Centre for Aviation said, according to Mint, a local business newspaper.
HSBC Holdings, Citigroup Inc., Morgan Stanley, JM Financial , Kotak Investment Banking, CLSA, Barclays, Axis Capital and Deutsche Bank will reportedly present to the airline's management in Paris. Neither the company nor the banks have confirmed the development, but local media reports have said the airline will appoint a principal banker soon.
Read news in full 03/07/14 Sneha Shankar/International Business Times
IndiGo, a low-cost carrier with a 32 percent share of the Indian market, is gearing up for a $400 million initial public offering, or IPO, in the second half of 2015. And sometime over the next two weeks, Indigo’s management will be pitched by banks, both foreign and local, for the role of principal banker. The airline, which was founded in 2006, is the only profitable airline in India's crowded aviation sector, which has recently seen the entry of foreign players like AirAsia and a joint-venture between India's Tata Group and Singapore Airlines.
“The time is approaching to leverage this achievement and an IPO is likely in FY2015, possibly in the third quarter. If it proceeds, it is expected to be the largest ever aviation IPO in India,” Capa Centre for Aviation said, according to Mint, a local business newspaper.
HSBC Holdings, Citigroup Inc., Morgan Stanley, JM Financial , Kotak Investment Banking, CLSA, Barclays, Axis Capital and Deutsche Bank will reportedly present to the airline's management in Paris. Neither the company nor the banks have confirmed the development, but local media reports have said the airline will appoint a principal banker soon.
Read news in full 03/07/14 Sneha Shankar/International Business Times
No comments:
Post a Comment