InterGlobe Aviation on Monday announced that its board has approved the raising of funds for an amount not exceeding Rs 3,000 crore through an issue of equity shares by way of a qualified institutional placement (QIP).
The company said fund raising will be carried out in accordance with the relevant provisions of applicable laws and subject to approval of company's shareholders and receipt of applicable regulatory approvals.
Shares of InterGlobe Aviation were trading 0.67% higher at Rs 1,689.20 on the BSE.
InterGlobe Aviation (IndiGo) is amongst the fastest growing low-cost carriers in the world. It had a fleet of 287 aircraft as of 31 December 2020.
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