Indian low-fare pioneer Air Deccan is going public through an initial public offering (IPO) to raise funds to support its aggressive expansion.
The fast-growing carrier has filed paperwork with the Securities and Exchange Board of India seeking to sell 24.5 million shares, representing one-quarter of its planned post-issue paid-up capital. There are no pricing details yet but Air Deccan said last year that it was hoping to raise around $250 million through an IPO to support its expansion. ■
Source: Flight International