InterGlobe Aviation Ltd IPO (IndiGo IPO) Detail

Oct 27, 2015 - Oct 29, 2015

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

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 Details

IPO Date Oct 27, 2015 to Oct 29, 2015
Listing Date Tuesday, November 10, 2015
Face Value ₹10 per share
Price ₹700 to ₹765 per share
Lot Size 15 Shares
Issue Size[.] shares of ₹10
(aggregating up to ₹3,018.24 Cr)
Fresh Issue[.] shares of ₹10
(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
Company Promoters

The promoters of the company are Mr Rahul Bhatia, Mr Rakesh Gangwal and InterGlobe Enterprises & Acquire Services.

IndiGo IPO Lot Size

The IndiGo IPO lot size is 15 shares. A retail-individual investor can apply for up to 17 lots (255 shares or ₹195,075).

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

IndiGo IPO Review

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 Oct 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)

IndiGo IPO Prospectus

IndiGo IPO Rating

Rating:Rated 3.2 stars
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IndiGo IPO Listing Date

Listing Date Tuesday, November 10, 2015
BSE Script Code 539448
Listing In B Group of Securities
ISIN INE646L01027
IPO Price ₹765 per share
Face Value ₹10 per share

Listing Day Trading Information

IPO Price
Last Trade

Company Contact Information

InterGlobe Aviation Ltd
Central Wing, Ground Floor,
Thapar House, 124 Janpath,
New Delhi - 110 001, India
Phone: +91 11 6500 0428

IndiGo IPO Registrar

KFin Technologies Limited

Phone: 04067162222, 04079611000


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 Oct 27, 2015, and closes on Oct 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 Oct 27, 2015 and closes on Oct 29, 2015.

IndiGo IPO lot size is 15 Shares and the minimum order quantity is .

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, Edelweiss, 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 Tuesday, November 10, 2015.
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IndiGo IPO Message Board

Ranked Members of Forum  Ranked Members | Most Liked Members



331. bullishtiger |   Link |Feb 12, 2016 12:18:19 AM
Boeing shares drop 11%
Will it impact indigo tomorrow ?
330. Eagleye |   Link |Feb 1, 2016 9:18:12 AM
IPO Guru IPO Guru (6400+ Posts, 21100+ Likes)
List of Companies in Auto Ancillary Sector
Which have PE > Precision Camshaft:

Motherson Sumi
Shanthi Gears
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
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 |Feb 1, 2016 9:28:38 AM
Eagleye please provide latest gmp of monday
329. Eagleye |   Link |Jan 27, 2016 10:21:52 AM
IPO Guru IPO Guru (6400+ Posts, 21100+ 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 |Jan 27, 2016 10:44:53 AM
IPO Guru IPO Guru (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 |Jan 9, 2016 1:35:11 PM
IPO Guru IPO Guru (2500+ Posts, 2600+ Likes)
328.1. Eagleye |   Link |Jan 22, 2016 12:51:47 PM
IPO Guru IPO Guru (6400+ Posts, 21100+ Likes)
Will Indigo hit lower circuit today ?
327. Eagleye |   Link |Dec 21, 2015 8:47:18 PM
IPO Guru IPO Guru (6400+ Posts, 21100+ 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 |Jan 7, 2016 2:39:48 PM
Allotment Of IPO can be checked after five years.What is max time period for this.
Parmanand Jethani
326. Hemant |   Link |Dec 11, 2015 12:26:23 PM
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 |Dec 20, 2015 2:42:06 PM
IPO Guru IPO Guru (6400+ Posts, 21100+ Likes)
Bhav Bhagwaan !
325. JIGNESH SANGHAVI |   Link |Nov 28, 2015 3:17:33 PM
Alchem gmp 142 145 please update? ??
324. Irrational |   Link |Nov 27, 2015 3:38:04 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 |Nov 27, 2015 10:40:37 PM
IPO Guru IPO Guru (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 |Nov 26, 2015 5:19:05 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.


Chandravadan Jani.
323.1. IndianTrader |   Link |Nov 26, 2015 9:04:07 PM
Yes, Mr Jani, I also agree with you. I followed him and got the profit. Thanks Septa.. Regards
323.2. Septa |   Link |Nov 27, 2015 9:49:46 AM
IPO Guru IPO Guru (4000+ Posts, 4600+ Likes)
Thank u and happy investing.
322. Prashanth Shiva |   Link |Nov 24, 2015 3:20:32 PM
Health care global- HCG is coming IPO. It is good as far as i know
321. dar |   Link |Nov 21, 2015 10:52:23 PM
Please tell me about New iipo date
320. B. Srinivasan |   Link |Nov 20, 2015 4:15:21 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 |Nov 21, 2015 5:55:24 PM
Pl, advice how to get the shares that what I bid?
320.3. lalit p |   Link |Nov 26, 2015 9:48:55 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 |Nov 19, 2015 4:26:07 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 |Nov 16, 2015 7:56:50 PM
INDIGO is getting in FTSE indices from 18-Nov-15. Details below:
318.2. Irrational |   Link |Nov 17, 2015 2:43:01 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 |Nov 17, 2015 9:25:02 PM
Thanks a lot irrational, I would add your three points very first for each trading. Regards,
317. Seshasai |   Link |Nov 16, 2015 10:36:39 AM
INDIGO is at it still a good price to enter?
316. k.p |   Link |Nov 16, 2015 8:37:04 AM
1105 today plz wite
....& shk 255.....
Lund piki
315. Vivi |   Link |Nov 13, 2015 6:34:04 PM
Wtf is happening with Indigo. It''s just not stopping...
315.1. Septa |   Link |Nov 13, 2015 9:55:28 PM
IPO Guru IPO Guru (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 |Nov 13, 2015 1:48:27 PM
IPO Mentor IPO Mentor (600+ Posts, 100+ Likes)
313. SAN |   Link |Nov 13, 2015 10:14:53 AM
Sold all holding at 962
312. pinkyjain |   Link |Nov 12, 2015 11:42:33 PM
Indigo soon 1200 this month
Stay invested
312.1. IPO GRUP |   Link |Nov 13, 2015 11:25:46 AM
ndigo mr pahale to bolte the discount me jayega abhi Q gumte ho ???