Home » Business » IndiGo approaches investment board in run-up to IPO
Industry sources say the airline has approached the FIPB to give an undertaking to the government that the foreign stake in the company will not exceed 49 per cent even after the IPO.
Currently, overseas investor Rakesh Gangwal holds 49 per cent stake in the airline. The remaining 51 per cent is held by Rahul Bhatia.
Foreign direct investment norms in aviation cap foreign holding in domestic airline companies at 49 per cent. IndiGo, it is said, is looking to raise around $400 million through the IPO.
The airline’s approaching the FIPB has also raised speculation in the market about the airline looking at a possible stake sale to a West Asian carrier. However, this could not be confirmed
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