New Delhi: India's first no-frills airline Air Deccan has set a price band of Rs 150-175 a share for its initial public offer, which is set to open on May 18.
The airline hopes to raise Rs 400-425 crore through this offering - a reduction from its previous plan to raise Rs 700 crore through the IPO.
The airline plans to use the funds for debt repayment and infrastructure development, Air Deccan managing director GR Gopinath said. "We believe the IPO pricing offers a fair value for our prospective shareholders," he said.
The carrier has delayed the IPO to May due to lack of time to market its offer.
09/05/06 Times of India
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Wednesday, May 10, 2006
Air Deccan IPO price band fixed at Rs 150-175
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