|Delayed - 01/18 06:14:08 am|
InterGlobe Aviation : IndiGo to raise up to $534 million via share sale
|08/10/2020 | 07:54am|
Interglobe Aviation Ltd, which runs India's largest airline IndiGo, said on Monday it will raise up to 40 billion rupees ($533.70 million) through the sale of shares to institutional investors, as it looks to manage cash during the COVID-19 pandemic which has hit its operations.
The virus outbreak caused Interglobe to report its biggest ever loss last month. The company had also announced separate plans to raise at least $268 million through the sale and leaseback of planes and other assets.
(Reporting by Chandini Monnappa in Bengaluru; Editing by Shounak Dasgupta)