Budget carrier IndiGo will raise up to ₹3,000 crore through a qualified institutional placement (QIP), the company said in a filing.
The decision was taken by the board of directors of the parent company, InterGlobe Aviation Ltd.
The airline was contemplating this move last year as well, but decided to opt for sale-and-lease back (that allows airlines to sell its planes to a lessor, and then take them back on lease) to raise funds.
The decision to raise funds comes at a time when revival of travel demand is in doubt following the second wave of COVID-19. The airline had reported its fourth straight quarterly loss of ₹620 crore for December.
