InterGlobe Aviation, parent of the country’s largest airline IndiGo, plans to raise funds to increase its liquidity amid the aviation sector grappling with coronavirus pandemic woes.
The board of the company, during its meeting held on Friday, deliberated the possibility of raising funds through the qualified institutional placement (QIP) route.
According to a regulatory filing, the board “decided that the company should continue to explore all options to increase its liquidity, including by way of a QIP”.
Further details were not disclosed.
While the airline industry was slowly on the recovery path, the second wave of the coronavirus pandemic has hit the sector hard and air traffic has come down.
On Friday, shares of InterGlobe Aviation declined 1.45 per cent to close at Rs 1,639.60 apiece on the BSE.