InterGlobe Aviation's Rs 3,018 crore IPO over-subscribed by two times on Day 3

MUMBAI: The Rs 3,018-crore initial public offering ( IPO) of InterGlobe Aviation, operator of no-frills carrier Indigo, was fully subscribed on Wednesday-- the second day of the issue-- led by strong appetite from foreign institutional investors. Bids continued to pour in from foreign institutional investors as domestic institutional investors largely stayed away from the issue.

On Thursday, as of 1:07 pm the data on the NSE website showed that the issue was subscribed 1.94 times. The qualified institutional buyers (QIB) portion was subscribed 6.54 times with foreign investors bidding for 6.39 times the shares reserved for this category. Mutual funds bid for 0.15 times the shares in the category.



The response from retail and HNIs remained tepid. Retail investors bid for 19% of the shares set aside for them, while the high networth investors applied for just 4% of the shares in the category.

InterGlobe Aviation is selling shares at a price band of Rs 700-765 per share. The three-day issue will be closed for subscription on Thursday. At the upper end of the price band, the InterGlobe IPO can fetch Rs 3,018 crore.