INDIGO NEW DEALS
Stocks in news: YES Bank, Aster DM Healthcare, ONGC, IndiGo, Bank of Baroda
Equity indices soar with YES Bank's fundraising. IndiGo partners with Garuda for pilot training. Olympus Capital Asia to sell 5% of Aster DM Healthcare. ONGC appoints Devendra Kumar as CFO. Bank of Baroda appoints Chayani Manoj sundar as CFO.
Good time for IndiGo to grab market share in international segment: Pieter Elbers
If you look at international, though, we do 33 destinations today and they are pretty much in the region and some of the regional and I would say beyond regional expansions, which we recently did, starting flights into Africa, starting flights into Indonesia and starting flights into Central Asia, have been extremely encouraging.
Another block deal in IndiGo, 5 lakh shares change hands; stock flat
Earlier on Tuesday, promoter group entity InterGlobe Enterprises had sold a 2% stake or around 77 lakh shares in the airline after which their ownership had dropped to 35.75%. That was the first instance the Bhatia Family sold their stake in InterGlobe Aviation after the IPO.
Premiumisation & long haul two best bets for IndiGo: Jinesh Joshi
What I feel is that if you look at the domestic markets, Indigo's market share is anywhere at about 60% odd and they would have had to innovate to kind of expand a bit more. So, premiumisation and long haul I think these are the two best bets for them. So, I think they are on the right path.
IndiGo promoters sell around 2% in airline
InterGlobe Enterprises, the promoter group of IndiGo, sold a 2% stake in the airline for over ₹3,367 crore to fund its ventures. The stake sale will be used for hospitality and corporate purposes.
Stocks in news: IndiGo, Go Digit, Castrol India, IOL Chemicals, Wipro
Domestic markets stabilize post-elections. IndiGo stake sold. Go Digit reports profit. Wipro rolls out Lab45 AI Platform. Icra receives demand order. NHPTL approves share transfer. TCS launches IoT lab. IOL Chemicals gets CEP certificate. Castrol MD change. TVS signs contract.
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IndiGo promoter sells about 2% share
After the share sale, the Rahul Bhatia owned company will continue to remain IndiGo’s largest shareholder with around 35.7% stake in the company.
IndiGo promoter offloads 2% stake in Rs 3,367 crore block deal
InterGlobe Enterprises, owned by Rahul Bhatia's family, sold 2% stake in IndiGo for Rs 3,367 crore, marking their first stake sale post IPO.
IndiGo promoters likely sell 2% stake in Rs 3,700 crore block deal; stock sheds 4%
IndiGo Block Deal: This is the first time the Bhatia Family is offloading their stake in IndiGo post the IPO. InterGlobe Enterprises, through which Rahul Bhatia, one of the company's promoters, held a 37.91% stake in the company as of March 2024, according to BSE filings. Following the block deal, there will be a lock-up period of 365 days for the seller.
IndiGo promoter Bhatia family may sell 2% for $394 million
Bhatia Family selling 2% stake in IndiGo for ₹3,292.3 crore through a block deal. First stake sale post IPO. InterGlobe Enterprises selling shares. Lock-up period of 365 days post deal. IGE to invest in hospitality, launching Miiro hotels in Europe.
Stocks in news: IndiGo, Mphasis, IRB Infra, Raymond, BPCL
Domestic markets opened lower with focus on various companies' developments including IndiGo, Mphasis, IRB Infra, Cintra, RVNL, Siemens, Raymond Realty, BPCL, JSW Steel, Bharat Petroleum Corporation, Lupin, Global private equity, and Central Railway project.
Hot Stocks: Brokerage view on Wipro, IndiGo, UNO Minda and GAIL
Domestic brokerage Kotak Institutional Equities has a buy rating on IndiGo with a target price of Rs 5,700. The probability of Indigo breaching margin peaks is increasing. Most challengers to IndiGo will see another year of stiff losses in FY2025.
FA Airlines to buy regional airline FlyBig
Mumbai-based FA Airlines is set to acquire regional carrier FlyBig, which currently has four planes in its fleet. FA Airlines, incorporated in 2022, is focused on the aviation sector. The deal, for which an initial pact has been signed, will expand FlyBig's fleet by more than 20 aircraft once completed. Fauzia Arshi, an entrepreneur from the film industry, is the Managing Director of FA Airlines. India's civil aviation market is among the world's fastest-growing, with rising domestic air traffic. There are currently at least six scheduled regional carriers and six scheduled domestic airlines in India.
Tackling turbulence is part of flight plan
The Air India Express crisis, causing over 170 flights to be canceled, has been resolved. A union representing employees announced that sick crew members will return to duty immediately and 25 sacked crew members will be reinstated. The airline will be merged with AIX Connect, formerly AirAsia India, and staff were unhappy with service terms. The complex merger involves negotiations with unions to align working conditions post-merger.
Flying over city traffic: How exactly can you travel between Delhi and Gurugram in 7 minutes?
In a joint venture, InterGlobe Enterprises, the parent company of India's leading airline IndiGo, and US-based Archer Aviation, plan to introduce an all-electric air taxi service in India by 2026. This service will facilitate transportation from Connaught Place in New Delhi to Gurugram in Haryana, with a remarkable travel time of only 7 minutes.
Exclusive: WeWork Inc to sell entire stake in India unit
US office sharing company WeWork is selling its 27% stake in the India unit via a secondary deal. We have this evening scoop and more in today’s ETtech Top 5.
Pending poll umpire's decision delays closure of IPL ad deals
Advertising deals for this year's IPL are delayed due to lack of clarity over the schedule caused by the Lok Sabha elections. Companies seeking campaign-based advertising are waiting for more visibility on the schedule.
Stocks in news: IndiGo, JSW Energy, Alembic Pharma, RVNL, KPI Green
Gensol Engineering has won Gujarat Urja Vikas Nigam's 70 mw battery energy storage project, which is worth Rs 450 crore in revenues.
Meesho’s secondary deal; tech VCs line up for consumer brands
Peak XV Partners and Tiger Global are among investors aiming for a stake in ecommerce firm Meesho via secondary deals. More details in a packed edition of ETtech Morning Dispatch.
GMR Group, IndiGo Airlines tie up for digital transformation in Indian aviation
GMR Group and IndiGo Airlines have formed a strategic collaboration to reshape the Indian aviation industry. The partnership aims to enhance operational efficiency, passenger experiences, and industry sustainability through cutting-edge technologies. The consortium, led by GMR and IndiGo, will collaborate with multiple stakeholders to drive innovation, improve passenger services, achieve operational excellence, and embrace sustainable practices.
Consumer not the king: Why airlines have so many disgruntled passengers
A passenger assault on an IndiGo pilot during a flight delay caused by fog has added to incidents of the already frustrated Indian flyers. The incident highlights the ongoing challenges faced by the Indian aviation industry, including delays, cancellations, poor service, and harassment. The sector is dominated by a near-duopoly, with IndiGo and Tata-owned airlines controlling a significant market share. However, struggling smaller airlines may find respite as market conditions change. Despite these issues, the industry plans to add more aircraft in 2024, though a fare war is not expected due to the grounded planes.
Sanjiv Bhasin on why Ambani and Adani groups may power market in next 4 months
Sanjiv Bhasin says: “At least till March-April, the market belongs to Reliance and Adani because if the index has to do well, largecap stocks will have to do much better. Last year, value got preference ahead of growth. I would say Reliance and the Adani group should lead the market in next four months.”
IndiGo CEO opens up about aircraft grounding challenges: Steps in place
“We have recently concluded induction of another 11 planes which are coming in one by one. Going forward, we continue on that track. Only in the month of December, we get three more ATR aircraft coming in, so that is helpful. We got new airbuses coming in and we are evaluating a further increase of leased aircraft going forward.”
Forging a new path: ET Women Ahead shines spotlight on the most successful women in India Inc
The final list of 29 – selected from an initial list of 115 female leaders from corporate India – are the names to keenly watch for in the days ahead. If previous track records are anything to go by, they are all set to scale even greater heights in India Inc.
Affordable airfare to remain one of IndiGo's fundamental pillars: Pieter Elbers, CEO
"I think for Indigo, one of our very fundamental customer promises is affordable fares, and that is what we keep there. So yes, there will be seasonal fluctuations, like there always are. We also see prices of fuel going up. But at the end of the day, the Indigo customer promise — affordable fares — will remain a very strong pillar of the airline."
Rakesh Gangwal & Rahul Bhatia: How two friends built India's most successful airline and then split ways
The co-founder of IndiGo, Rakesh Gangwal, has reportedly sold shares worth $450m, indicating a possible exit from the company he helped create. Gangwal and Rahul Bhatia founded the airline in 2006, and it quickly became the market leader in India. The co-founders clashed over the future of the company, with Gangwal preferring more aggressive expansion, including adding more planes and increasing capacity. In contrast, Bhatia was more cautious and open to considering wide-bodied planes with a view to international expansion, which Gangwal opposed.
IndiGo's big bang Airbus deal. What does the next decade hold for India's largest airline?
The previous record for the largest aviation deal was held by Air India, who, in March this year, announced that they will be procuring 220 Boeing planes and 250 aircraft from Airbus. IndiGo was in talks with Boeing for its 737 Max offering, but ultimately went with the European planemaker, ensuring fleet commonality and maintaining its superior cost-efficiency model, giving it an edge over domestic peers.
IndiGo onboards SoftBank-backed Juspay as official payment partner
IndiGo has partnered with SoftBank-backed Juspay as its official payment partner to handle payments for direct bookings on the airline's app and website. Juspay has partnerships with Amazon, Flipkart, Swiggy, Big Basket, Cred, Ajio, Airtel, Ixigo , Axis Bank, Yes Bank, TATA Digital, and others, with more than 50 million transactions handled daily. The partnership comes as the Indian airline sector is rebounding after the pandemic.
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