IndiGo preps IPO

IndiGo’s parent company, InterGlobe Aviation, has received formal approval from market regulator Securities and Exchange Board of India (Sebi) for its Rs 2,500 crore (approx. US$475 million) initial public offer (IPO). Indigo plans to issue fresh shares worth Rs 1,272 crore, with an equivalent amount being raised via the sale of up to 3.01 crore shares by its existing shareholders. Citigroup, JPMorgan India, Morgan Stanley, Barclays, UBS Securities India and Kotak Mahindra Capital Company are managers for the share sale. IndiGo has posted a profit for the past seven years; during the year ending March 31, 2014, it earned a