On National Stock Exchange (NSE), the stock listed at Rs 855.80 and rallied to Rs 899.50 in intraday trade. Photo: Reuters 
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On National Stock Exchange (NSE), the stock listed at Rs 855.80 and rallied to Rs 899.50 in intraday trade. Photo: Reuters Shares of much-awaited IPO InterGlobe Aviation, the owner oflow-budget airlines IndiGo, listed on Bombay Stock Exchange (BSE) in trade on Tuesday at Rs 856 with a premium of 11.89 per cent against the issue price ofRs 765.
The stock ended the day 14.87 per cent up after hitting an intraday high of Rs 898, up 4.90 per cent against the opening price and 17.38 per cent against the issue price.
On National Stock Exchange (NSE), the stock listed at Rs 855.80 and rallied up to Rs 899.50 in intraday trade.
The IPO, issued last month, was over-subscribed 6.15 times, but the retail participation was tepid. The company has raised Rs 832 crore from anchor investors by allotting shares at the upper limit of price band at Rs 765 apiece.
IndiGo's Rs 3,018-crore public offer is the biggest Indian listing since Bharti Infratel 's 4982.25 crore market debut in December 2012.
The IPO comes at a time when slumping fuel costs have raised the outlook for budget airlines in India.
At the same time, IndiGo is expected to benefit the most as more Indians become wealthy enough to fly. The carrier has outperformed rivals by keeping its cost base and debts low, while building a reputation for punctuality.
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