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InterGlobe Aviation IPO is a book build issue of ₹3,017.14 crores. The issue is a combination of fresh issue of 1.66 crore shares aggregating to ₹1,272.20 crores and offer for sale of 2.28 crore shares aggregating to ₹1,744.94 crores.
InterGlobe Aviation IPO bidding started from Oct 27, 2015 and ended on Oct 29, 2015. The shares got listed on BSE, NSE on Nov 10, 2015.
InterGlobe Aviation IPO price band is set at ₹765.00 per share . The lot size for an application is 15. The minimum amount of investment required by an retail is ₹10,500 (15 shares). The lot size investment for sNII is 18 lots (270 shares), amounting to ₹2,06,550, and for bNII, it is 88 lots (1,320 shares), amounting to ₹10,09,800.
The issue includes a reservation of up to 22,00,000 shares for employees offered at a discount of ₹76.50 to the issue price.
Barclays Securities (India) Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to InterGlobe Aviation IPO RHP for detailed Information.
| IPO Date | October 27, 2015 to October 29, 2015 |
| Listing Date | November 10, 2015 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹700 to ₹765 per share |
| Issue Price Final | ₹765 per share |
| Lot Size | 15 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 3,94,64,562 shares (aggregating up to ₹3,017.14 Cr) |
| Fresh Issue | 1,66,40,544 shares (aggregating up to ₹1,272.20 Cr) |
| Offer for Sale | 2,28,24,018 shares of ₹10 (aggregating up to ₹1,744.94 Cr) |
| Employee Discount | ₹76.50 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 36,16,84,551 shares |
| Share Holding Post Issue | 38,40,70,165 shares |
IndiGo IPO offers total 3,95,46,814 shares. Out of which 1,86,73,407 (47.22%) allocated to QIB, 74,69,363 (18.89%) allocated to QIB, 56,02,022 (14.17%) allocated to NII, 1,30,71,385 (33.05%) allocated to RII and 1,12,04,044 (28.33%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 1,86,73,407 (47.22%) | NA |
| − Anchor Investor Shares Offered | 1,12,04,044 (28.33%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 74,69,363 (18.89%) | NA |
| NII (HNI) Shares Offered | 56,02,022 (14.17%) | NA |
| Retail Shares Offered | 1,30,71,385 (33.05%) | 8,71,425 |
| Employee Shares Offered | 22,00,000 (5.56%) | NA |
| Total Shares Offered | 3,95,46,814 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
InterGlobe Aviation IPO opens on October 27, 2015, and closes on October 29, 2015.
| IPO Open Date | Tue, Oct 27, 2015 |
| IPO Close Date | Thu, Oct 29, 2015 |
| Tentative Listing Date | Tue, Nov 10, 2015 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Oct 29, 2015 |
Investors can bid for a minimum of 15 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 15 | ₹11,475 |
| Retail (Max) | 17 | 255 | ₹1,95,075 |
| S-HNI (Min) | 18 | 270 | ₹2,06,550 |
| S-HNI (Max) | 87 | 1,305 | ₹9,98,325 |
| B-HNI (Min) | 88 | 1,320 | ₹10,09,800 |
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.
| Particulars | For the year/period ended (in Rs. Million) | |||
| 31 Mar 15 | 31 Mar 14 | 31 Mar 13 | 31 Mar 12 | |
| Total Income | 114,321.18 | 94,402.34 | 57,086.20 | |
| Profit After Tax (PAT) | 4,733.27 | 7,833.57 | 1,405.94 | |
The Company InterGlobe Aviation IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Retirement of certain outstanding lease liabilities and consequent acquisition of aircraf | 1,165.66 |
| 2 | Purchase of ground support equipment for our airline operations | 34.26 |
| 3 | General corporate purposes | 7.28 |
[Dilip Davda] <p>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.<strong> Hence this appears to be a 'High Risk/Low return' bet. </strong></p> Read detail review...
| Listing Date | November 10, 2015 |
| BSE Script Code | 539448 |
| NSE Symbol | INDIGO |
| ISIN | INE646L01027 |
| Final Issue Price | ₹765 per share |
| BSE Listing Group | B |
InterGlobe Aviation Ltd.
Central Wing, Ground Floor,
Thapar House, 124 Janpath,
New Delhi - 110 001, India
New Delhi, New Delhi
Phone: +91 11 6500 0428
Email: investors@goindigo.in
Website: http://www.goindigo.in/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://ipostatus.kfintech.com/
Lead Manager Reports
InterGlobe Aviation IPO is a main-board IPO of 3,94,64,562 equity shares of the face value of ₹10 aggregating up to ₹3,017.14 Crores. The issue is priced at ₹765 per share. The minimum order quantity is 15.
The IPO opens on October 27, 2015, and closes on October 29, 2015.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in InterGlobe Aviation IPO using UPI as a payment gateway. Zerodha customers can apply in InterGlobe Aviation IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in InterGlobe Aviation IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The InterGlobe Aviation IPO opens on October 27, 2015 and closes on October 29, 2015.
InterGlobe Aviation IPO lot size is 15, and the minimum amount required for application is ₹11,475.
You can apply in InterGlobe Aviation IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for InterGlobe Aviation IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the InterGlobe Aviation IPO allotment status.
The InterGlobe Aviation IPO listing date is on Tuesday, November 10, 2015.
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