InterGlobe Aviation board to discuss further on raising funds

New Delhi: The board of InterGlobe Aviation, the parent of the country's largest airline IndiGo, on Thursday decided to further deliberate on plans to raise funds. A day after announcing financial results for the June quarter, the company's board met on Thursday to discuss fund raising.

According to a regulatory filing, the board at its meeting held on Thursday "decided to further deliberate on the matter relating to raising of funds at a subsequent board meeting."

Specific details were not disclosed.

In a regulatory filing on July 24, the company said its board would meet on July 30 (Thursday) to discuss and consider, among other things, raising of funds through issue of equity shares, and/or Foreign Currency Convertible Bonds (FCCBs), among other instruments.

This could be through qualified institutional placement, rights issue, FCCB issuance, or such other permissible mode or combination, the filing had said.

On Wednesday, InterGlobe Aviation reported a net loss of Rs 2,844.3 crore for the three months ended June as disruptions due to the coronavirus pandemic significantly impacted the airline.

The parent of the country's largest airline IndiGo had a net profit of Rs 1,203.1 crore in the year-ago period.