IndiGo, Infibeam and Teamlease to raise over Rs3,000 cr through IPO

Three companies, including low-cost carrier IndiGo, staffing firm Teamlease and e-retailer Infibeam, are entering the market to raise more than Rs3,000 crore from investors.

InterGlobe Enterprises, which runs the country's biggest airline by market share, IndiGo, is likely to file the prospectus for an initial public offer (IPO) to raise Rs2,000-2,500 crore (around $400 million).

Teamlease is looking to raise Rs450-500 crore and Infibeam about Rs400 crore.

Merchant banking sources said the draft papers for all the three initial public offers were being submitted to capital market regulator Sebi today.

IndiGo flew 2.77 million passengers in May, accounting for more than a third of the total traffic. Last month, all Indian carriers together ferried total of 7.13 billion passengers.

The privately-held IndiGo is one of the two domestic carriers making profit. The other profitable airline is GoAir.

Earlier this month, Sydney-based aviation think-tank Centre for Asia Pacific Aviation (CAPA) said IndiGo is estimated to have recorded a profit of $150-175 million in fiscal 2015.

IPOs have become active now with over 30 companies, including Cafe Coffee Day, Matrix Cellular, and GVK Airport, have lined up plans to raise a total of over Rs20,000 crore through public offers.

At least 20 of these firms have got the go-ahead from market regulator Sebi to launch their respective IPOs while the draft IPO papers of five firms are currently ''under process'' but may be cleared soon.

The flurry of activity in the IPO space follows market stability and the slew of fresh reforms announced by market regulator SEBI, including halving of the listing period to six days and making the application process for investors entirely cheque-free.