IndiGo's parent firm InterGlobe Aviation has received approval from market regulator Sebi for its Rs 2,500 crore initial public offer, said the media reports.
Under the offer, the company plans to issue fresh shares worth Rs 1,272 crore. An equivalent amount can be raised through sale of up to 3.01 crore shares by its existing shareholders.
The Securities and Exchange Board of India (Sebi) has cleared the proposed initial share sale and gave its final observations on the IPO on September 11.
The papers for raising up to Rs 2,500 crore through the IPO were filed with Sebi in June this year. InterGlobe Aviation runs the country's biggest airline by market share under the IndiGo brand.
Citigroup, JPMorgan India, Morgan Stanley, Barclays, UBS Securities India and Kotak Mahindra Capital Company are managers for the share sale.