IndiGo raises $459 million in IPO, at upper end of range

InterGlobe Aviation, owner of budget airline IndiGo , raised $458.91 million in an initial public offering after setting the pricing at Rs 765 per share, according to a prospectus on Monday.

That was at the upper end of a price range of Rs 700 to Rs 765 per share. The book-building closed last week, having attracted orders worth six times the number of available shares.

InterGlobe's IPO is the country's biggest since the listing of around $750 million by Bharti Infratel in December 2012. It will make its market debut later this month.

On Tuesday, market debutant Coffee Day Enterprises , the operator of biggest coffee chain, slumped 17.6 per cent below its IPO price of Rs 328 as investors fretted over a generous price tag they said underestimated concerns around its complex structure.

(REUTERS)