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InterGlobe Aviation Ltd IPO (IndiGo IPO) Detail

October 27, 2015 - October 29, 2015

IndiGo IPO is a book built issue of Rs 3,018.24 crores. The issue comprises of fresh issue of Rs 1,272.20 crore and offer for sale of 2.28 crore shares.

IndiGo IPO bidding started from October 27, 2015 and ended on October 29, 2015. The shares got listed on BSE, NSE on November 10, 2015.

IndiGo IPO price band is set at ₹700 to ₹765 per share. The minimum lot size for an application is 15 Shares. The minimum amount of investment required by retail investors is ₹11,475.

Barclays Securities (India) Private Limited, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited, Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Pvt Ltd and Ubs Securities India Private Limited are the book running lead managers of the IndiGo IPO, while Kfin Technologies Limited is the registrar for the issue.

Refer to IndiGo IPO RHP for detailed information.

IndiGo IPO Details

IPO Date October 27, 2015 to October 29, 2015
Listing Date November 10, 2015
Face Value ₹10 per share
Price Band ₹700 to ₹765 per share
Lot Size 15 Shares
Total Issue Size[.] shares
(aggregating up to ₹3,018.24 Cr)
Fresh Issue[.] shares
(aggregating up to ₹1,272.20 Cr)
Offer for Sale22,824,018 shares of ₹10
(aggregating up to ₹[.] Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE

IndiGo IPO Reservation

IndiGo IPO offers 24,241,380 shares. 8,522,935 (35.16%) to QIB, 5,819,746 (24.01%) to NII, 13,579,407 (56.02%) to RII, 2,200,000 (9.08%) to employees. 905,293 RIIs will receive minimum 15 shares and (sNII) and (bNII) will receive minimum 270 shares. (in case of oversubscription)

Investor Category Shares OfferedMaximum Allottees
Anchor Investor Shares Offered-NA
QIB Shares Offered8,522,935 (35.16%)NA
NII (HNI) Shares Offered5,819,746 (24.01%)
Retail Shares Offered13,579,407 (56.02%)905,293
Employee Shares Offered2,200,000 (9.08%)NA
Total Shares Offered24,241,380 (100%)

IndiGo IPO Lot Size

Investors can bid for a minimum of 15 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 15 ₹11,475
Retail (Max) 17 255 ₹195,075
Lot Size Calculator

About InterGlobe Aviation Ltd

Incorporated in 2006, Interglobe Aviation Ltd is India based aviation, hospitality and travel related service provider. Company own and operate 'IndiGo', India's largest airline with over 33% of domestic passenger market share.

IndiGo Airline, the low-cost airline carries the brand message of providing "low fares, on-time flights and a hassle-free experience" to air travelers in India.

IndiGo has scheduled services to 33 cities within India and 5 cities (Bangkok, Dubai, Kathmandu, Muscat and Singapore) internationally with 623 daily flights.

Company also has a joint venture with Accor Asia Pacific since 2004 to develop a network of 'ibis' hotels throughout India, Nepal, Sri Lanka and Bangladesh. With 10 ibis hotels open and 9 under development, the company shall have a portfolio of 19 operational hotels with room inventory of about 3500 rooms by 2017.

Company's Strengths

1. Largest market share in one of the largest and fastest growing aviation markets in the world

2. Maintain disciplined execution of the low-cost carrier business model with single aircraft type, high aircraft utilization, high operational reliability, no-frills product and low distribution costs.

3. A structural cost advantage. Large Airbus aircraft orders enable favorable terms on aircraft, engines and components. Company has Young, modern and fuel-efficient fleet.

4. Strong brand recognition

5. Company maintained consistent profitability and strong cash flow generation, balance sheet and liquidity position.

Company Financials

ParticularsFor the year/period ended (in Rs. Million)
31 Mar 1531 Mar 1431 Mar 1331 Mar 12
Total Income114,321.1894,402.3457,086.20
Profit After Tax (PAT)4,733.277,833.571,405.94

Objects of the Issue (IndiGo IPO Objectives)

The Issue comprises the Fresh Issue and Offer for Sale.

Objects of the Offer for Sale

The proceeds from Offer for Sale (net of Issue related expenses incurred by the Selling Shareholders) will go to the Selling Shareholders and the Company will not receive any proceeds except reimbursement of Issue expenses incurred by the Company on behalf of the Selling Shareholders.

Objects of the Fresh Issue

Company proposes to utilize the funds which are being raised through the Fresh Issue for the following objects:

1. Retirement of certain outstanding lease liabilities and consequent acquisition of aircraft;
2. Purchase of ground support equipment for our airline operations; and
3. General corporate purposes,
4. To receive the benefits of listing of the Equity Shares on the Stock Exchanges.

IndiGo IPO Review (Avoid)

[Dilip Davda]  

Considering its negative NAV as on 30.06.15, issue price is exorbitant. Aviation policy changes are expected in a month’s time, which will cast its shadow on the future trends of aviation industry. Rupee/Dollar parity and volatile ATF prices will continue to have its impact on bottom lines in coming years as well. As per latest balance sheet as on 30.06.15, as the cow is milked, there is virtually nothing is left for new investors at such a fancy pricing. Hence this appears to be a 'High Risk/Low return' bet.

Read detail review...


IndiGo IPO Subscription Status (Bidding Detail)

The IndiGo IPO is subscribed 6.15 times on October 29, 2015 8:30:00 PM. The public issue subscribed 0.92 times in the retail category, 17.80 times in the QIB category, and 3.57 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB17.80
NII3.57
Retail0.92
Employee0.13
Total6.15

IndiGo IPO Prospectus

IndiGo IPO Rating

371
3.2
Rating:Rated 3.2 stars
Vote Here ...

IndiGo IPO Listing Details

Listing Date November 10, 2015
BSE Script Code 539448
NSE Symbol INDIGO
ISIN INE646L01027
Final Issue Price ₹765 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
BSE
₹765.00
₹856.00
₹848.10
₹898.00
₹878.45
NSE
₹765.00
₹855.80
₹849.00
₹899.50
₹877.25

Check IPO Performance…

InterGlobe Aviation Ltd Contact Details

InterGlobe Aviation Ltd
Central Wing, Ground Floor,
Thapar House, 124 Janpath,
New Delhi - 110 001, India
Phone: +91 11 6500 0428
Email: investors@goindigo.in
Website: http://www.goindigo.in/

IndiGo IPO Registrar

Kfin Technologies Limited

Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://kosmic.kfintech.com/ipostatus/

IndiGo IPO FAQs

IndiGo IPO is a main-board IPO of [.] equity shares of the face value of ₹10 aggregating up to ₹3,018.24 Crores. The issue is priced at ₹700 to ₹765 per share. The minimum order quantity is 15 Shares.

The IPO opens on October 27, 2015, and closes on October 29, 2015.

Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

The IndiGo IPO opens on October 27, 2015 and closes on October 29, 2015.

IndiGo IPO lot size is 15 Shares, and the minimum amount required is ₹11,475.

You can apply in IndiGo IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for IndiGo IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the IndiGo IPO allotment status.

The IndiGo IPO listing date is on November 10, 2015.
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IndiGo IPO Message Board

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605 Comments

331. bullishtiger |   Link |  Bookmark |February 11, 2016 11:18:19 PM
Boeing shares drop 11%
Will it impact indigo tomorrow ?
330. Eagleye |   Link |  Bookmark |February 1, 2016 8:18:12 AM
IPO Guru IPO Guru (6600+ Posts, 21900+ Likes)
List of Companies in Auto Ancillary Sector
Which have PE > Precision Camshaft:

Motherson Sumi
Shanthi Gears
Bosch
Sona Koyo Steer.
Sundaram Clayton
Minda Corp
Timken India
Wheels India
Fag Bearings
Suprajit Engg.
Automotive Axles
ANG Inds
SKF India
Lumax Auto Tech.
Amara Raja Batt.
Harita Seating
Subros
Shivam Autotech
Jamna Auto Inds.
NRB Bearings
Autolite (I)
JBM Auto
Hi-Tech Gears
India Motor Part
India Nipp.Elec.
Menon Bearings
Minda Inds.
Rane (Madras)
Fiem Inds.
330.1. Apex |   Link |  Bookmark |February 1, 2016 8:28:38 AM
Eagleye please provide latest gmp of monday
329. Eagleye |   Link |  Bookmark |January 27, 2016 9:21:52 AM
IPO Guru IPO Guru (6600+ Posts, 21900+ Likes)
Indigo VS Spicejet

What is Bothering Indigo?
Stock extends decline to 4th Day
Airbus Delay wipes $1.2 bn market cap
Leasing old planes will raise Indigo’s expenses
Pressure on ticket prices & INR depreciation to offlower oil price gains
Brokerages like Citi and Kotak cut TP on the stock by 8-10%

What is Boosting Spicejet ?
Reports a profit vs a loss in the previous qtr
Lower costs and operating expenses aide margins
Reduction in capacity has helped the co

Indigo vs Spicejet : Stock performance (YTD)
Indigo down 25%
Spicejet up 2.3%

Indigo vs Spicejet : ANR
Indigo 12 M TP Rs 1127.88/share
Spicejet 12 M TP Rs 83/share

Market Share
Indigo mkt share at 35.6 in dec from 36.4 in Jan
Spicejet market share at 12.7 in dc vs 9.4 in Jan

Passenger Factor (%)
Indigo PLF increases to 88.5 in Dec from 85.2 in Jan (up 4%)
Spicejet PLF increases to 92.1 in Dec from 80 in Jan (up 15)

PE for Q3FY16
Indigo: PE at 49.37
Spicejet: PE at 23.2
329.1. Septa |   Link |  Bookmark |January 27, 2016 9:44:53 AM (4000+ Posts, 4600+ Likes)
i have both the stock in my portfolio and bullish on both however i have sold 60% my holding in indigo after seeing 60% increase in value however spice jet has seen more return still holding and also one jet air and other few air line related companies given crude oil play
328. Chem cho |   Link |  Bookmark |January 9, 2016 12:35:11 PM
IPO Guru IPO Guru (2500+ Posts, 2700+ Likes)
MINT PAPER NEWS
PAGE 1
328.1. Eagleye |   Link |  Bookmark |January 22, 2016 11:51:47 AM
IPO Guru IPO Guru (6600+ Posts, 21900+ Likes)
Will Indigo hit lower circuit today ?
327. Eagleye |   Link |  Bookmark |December 21, 2015 7:47:18 PM
IPO Guru IPO Guru (6600+ Posts, 21900+ Likes)
Kotak Initiate on InterGlobe Aviation - Flying high. 

*We expect India’s domestic air-travel demand to proliferate in FY2015-18E(expect 19% CAGR) on account of (1) narrowing gap between rail and air fares and (2) expected pick-up in economic activity.

*IndiGo will be the prime beneficiary of this trend given (1) its dominant position in the space and (2) lack of capacity with its peers.

*Strong PAT CAGR of 41% in FY2015-18E should enable high FCF generation and dividend payout and attract premium valuations for the company.

*We initiate coverage with a BUY rating and TP of Rs1,420, based on 15X September 2017E EPS.
327.1. Parmanand Jethani |   Link |  Bookmark |January 7, 2016 1:39:48 PM
Allotment Of IPO can be checked after five years.What is max time period for this.
Regards
Parmanand Jethani
326. Hemant |   Link |  Bookmark |December 11, 2015 11:26:23 AM
Hi all,

I''m new here, even in IPOs also. I was reading red herring prospectus of NHL.
As per page 18, there are 10 criminal cases against company/subsidiaries, 1 against promoters, 8 against directors, many other legal cases are there in which NHL is involved. Amount involves ~43 cr ( excludes cost and interest claimed). As per risk factor section, there are many risk factors involved. Also in FY15 consolidated financials of NHL are not good, even suffered losses in FY15.

As per my understanding this can''t be good investment.

(All this information is from red herring prospectus)
326.1. Eagleye |   Link |  Bookmark |December 20, 2015 1:42:06 PM
IPO Guru IPO Guru (6600+ Posts, 21900+ Likes)
Bhav Bhagwaan !
325. JIGNESH SANGHAVI |   Link |  Bookmark |November 28, 2015 2:17:33 PM
Alchem gmp 142 145 please update? ??
324. Irrational |   Link |  Bookmark |November 27, 2015 2:38:04 PM
@Septa: Correct me if i am wrong..

Indigo had profit of 640 Crs in Q1. Considering just 5% of growth in net profit each quarter the total profit comes 2757 Crs for the whole year FY16.

1) Fuel prices are low and will remain low there should not be any instability
2) This is the fastest growing business in India currently

Now considering all above scenarios, what should be the PE of INDIGO

~ 20 = 2757*20 = 55140
~ 25 = 2757*25 = 68925
~ 30 = 2757*25 = 82710

* Now the best part, the company is aslight, lots of profit should flow down as dividend.
324.1. Septa |   Link |  Bookmark |November 27, 2015 9:40:37 PM (4000+ Posts, 4600+ Likes)
MC of 55140 is little bit rich IMO then market is irrational i have start selling sold 30% at average Rs1125 still hold 1500 share next kick would be quarterly result
323. Chandravadan |   Link |  Bookmark |November 26, 2015 4:19:05 PM
Dear Septa,

I congratulate you on your comment which you posted few day ago of indigo listing as

"just a analysis based on JEJU aviation listing where market has given a premium of 60%....
JEJU this company is loss making company however this year bcoz of crude price will make a profit of 221 crs and MC of 1.14 Indigo in number plane is 5 times big then JEJU in number of flights a day it 6 time big and on profit front it is 13.5 times big...... now let see what valuation we get anything over 6 billion.... if we get 60% premium as JEJU got the share price will be RS 1275....."

You are really genius, although I have not applied for indigo but I like your observations and comments on this websites.

thanks,

Chandravadan Jani.
323.1. IndianTrader |   Link |  Bookmark |November 26, 2015 8:04:07 PM
Yes, Mr Jani, I also agree with you. I followed him and got the profit. Thanks Septa.. Regards
323.2. Septa |   Link |  Bookmark |November 27, 2015 8:49:46 AM (4000+ Posts, 4600+ Likes)
Thank u and happy investing.
322. Prashanth Shiva |   Link |  Bookmark |November 24, 2015 2:20:32 PM
Health care global- HCG is coming IPO. It is good as far as i know
321. dar |   Link |  Bookmark |November 21, 2015 9:52:23 PM
Please tell me about New iipo date
320. B. Srinivasan |   Link |  Bookmark |November 20, 2015 3:15:21 PM
I applied for 3 lot @ 765 and money was deduct from my account but there was no shares allotted to me and I just want to know when will I get my money back?
320.2. B. Srinivasan |   Link |  Bookmark |November 21, 2015 4:55:24 PM
Pl, advice how to get the shares that what I bid?
320.3. lalit p |   Link |  Bookmark |November 26, 2015 8:48:55 AM
B. Srinivasan,

First of all check the IPO allotment status and see what''s the status you see.
Tell me the result, will try to help you..

319. RAJPAN |   Link |  Bookmark |November 19, 2015 3:26:07 PM
Presently, I don''t find much comment from our experts.
Probably, Indigo''s performance has stunned most of our friends.
Anyway, it is a good platform to have positive attitude to make profit for all our friends. Thanks. Any New IPO in near future.
318. Irrational |   Link |  Bookmark |November 16, 2015 6:56:50 PM
INDIGO is getting in FTSE indices from 18-Nov-15. Details below:

http://www.ftse.com/products/index-notices/home/getnotice/?id=1359691
318.2. Irrational |   Link |  Bookmark |November 17, 2015 1:43:01 PM
That was only for information. Only things which can impact the stock price of Indigo are Greed, Fear & Liquidity. Cheers !!
318.3. IndianTrader |   Link |  Bookmark |November 17, 2015 8:25:02 PM
Thanks a lot irrational, I would add your three points very first for each trading. Regards,
317. Seshasai |   Link |  Bookmark |November 16, 2015 9:36:39 AM
INDIGO is at Rs1003.is it still a good price to enter?
316. k.p |   Link |  Bookmark |November 16, 2015 7:37:04 AM
1105 today plz wite
....& shk 255.....
Lund piki
315. Vivi |   Link |  Bookmark |November 13, 2015 5:34:04 PM
Wtf is happening with Indigo. It''s just not stopping...
315.1. Septa |   Link |  Bookmark |November 13, 2015 8:55:28 PM (4000+ Posts, 4600+ Likes)
FTSE inclusion boosts IndiGo stock today this big positive given that now FII MF need to have indigo in it portfolio as a index based fund.... my second target price is 1075 which i though would come in 3 to 6 months which came close today.... will book some more profit waiting for alike hope it is priced right and leave a lot for RII
314. SONMAYA |   Link |  Bookmark |November 13, 2015 12:48:27 PM
IPO Mentor IPO Mentor (1300+ Posts, 400+ Likes)
INDIGO....975....CURRENTLY
313. SAN |   Link |  Bookmark |November 13, 2015 9:14:53 AM
Sold all holding at 962
312. pinkyjain |   Link |  Bookmark |November 12, 2015 10:42:33 PM
Indigo soon 1200 this month
Stay invested
312.1. IPO GRUP |   Link |  Bookmark |November 13, 2015 10:25:46 AM
ndigo mr pahale to bolte the discount me jayega abhi Q gumte ho ???