InterGlobe Aviation to explore options to increase liquidity

By: |
May 07, 2021 10:24 PM

The board of the company, during its meeting held on Friday, deliberated the possibility of raising funds through the qualified institutional placement (QIP) route.

India's largest airline IndiGoOn Friday, shares of InterGlobe Aviation, parent of the country's largest airline IndiGo, declined 1.45 per cent to close at Rs 1,639.60 apiece on the BSE. 

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.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Conserve water: Modern tech to help save water
2Level playing field to be made for Samsung & Apple vendors
3Govt removes end-use curbs for auction of mines to lure investments