Set to hit the capital markets with Rs3,268 crore IPO next week, InterGlobe Aviation today said it will retire nearly one-third of its total debt of Rs3,912 crore from the share-sale proceeds.
InterGlobe Aviation is the holding company of IndiGo airline. The company said it will retire Rs1,166 crore out of its Rs3,912-crore debt from the IPO proceeds.
Stating that the airline has not a single penny in working capital or non-aircraft purchase related debt, company President Aditya Ghosh said the entire Rs3,912-crore debt it has is related to aircraft purchases.
Out of its nine years of existence, it has been profitable in seven years, he claimed. “For us the company turning a negative networth of Rs139 crore is a non-event”, Ghosh said.