DHAKA: Indian budget airline IndiGo plans to conduct an initial share offering this week as it seeks to raise as much as 32.68bn rupees ($500m).

The share offering would be India’s largest since 2012.

Owned by InterGlobe Aviation, IndiGo is the country’s largest domestic airline by market share, reports the BBC.

The public offer is set to open on Tuesday and close on 29 October.

It proposed to list on the Bombay Stock Exchange and the National Stock Exchange of India.

Global coordinators of the share sale include JP Morgan, Barclays and UBS, according to the firm’s preliminary prospectus filed in June.

The firm warned in its initial prospectus that there was ‘no assurance that the new routes which we expand into will be profitable or become profitable’.

IndiGo’s international destinations currently include Singapore, Dubai and Bangkok and consultancy firm Centre of Aviation (CAPA) said it has been the only consistently profitable carrier in the country for the past seven years.

IndiGo said it may not be able to successfully implement its planned expansion of its route network ‘due to factors beyond our control’ - including economic, political and business conditions.

BDST: 1320 HRS, OCT 27, 2015
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