MUMBAI: Low-cost airline IndiGo on Friday said its board has approved a capital investment of $820 million (about Rs 7, 294 crore) to acquire aviation assets, thereby enabling ownership of aircraft.
The investment was approved in IndiGo’s wholly-owned subsidiary, InterGlobe Aviation Financial Services IFSC Private Limited (IndiGo IFSC).
“The Investment will be made through combination of equity shares and 0.01 per cent Non-Cumulative Optionally Convertible Redeemable Preference Shares (OCRPS), in one or more tranches. The funds raised by IndiGo IFSC shall be primarily deployed towards acquisition of aviation assets, thereby enabling ownership of aircraft, ” the airline said in a stock exchange filing.