IndiGo to file prospectus for $400 million IPO next week

Country's biggest airline IndiGo is set to file prospectus next week for a stock market listing that is expected to raise as much as $400 million, three sources with knowledge of the matter said.

IndiGo, owned by hospitality and travel company InterGlobe Enterprises, aims to get approval from market regulator Sebi in August before hitting the market later in the year, one of the sources said.

The timing of the market debut will, however, depend on market conditions, one of the sources said.

The sources declined to be named because they were not authorised to speak to the media.

IndiGo, founded in 2006, has used its low-cost model to stay profitable and become India's largest airline in a market enjoying double-digit growth in passenger numbers but where most carriers lose money because of tough competition and high costs.

(Reuters)