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IndiGo's IPO Demand Exceeds $460 Million Offer Size by 6 Times

  • Institutional investors bid at 16 times reserved shares
  • Retail investors bid for only 32% of allocated stock
Updated on

A planned $460 million share sale by InterGlobe Aviation Ltd., owner of India’s largest carrier IndiGo, got bids that were more than 6 times the issue size as the nation’s biggest initial public offering in almost three years was set to close Thursday.

Institutional investors subscribed to about 16 times the shares reserved for them, while retail investors bid for only 32 percent of the stock allocated to them as of 7:51 p.m. in Mumbai on the third and final day of the sale, according to the National Stock Exchange.