Relaxing FDI norms will provide a major impetus to employment and job creation.
With 262 planes, IndiGo operated over 1,500 daily flights prior to March 24 but is now operating around 350 scheduled flights a day, which is putting a pressure on its finances.
Government believes privatisation would increase the airline's efficiency and make it profitable, enriching the value of the remaining stake with it.
Aditya Ghosh, with no prior aviation background or MBA degree, managed not only to become the CEO of an airline but even piloted it to the top with almost half of the market.
Top no-frills carrier IndiGo on Tuesday approached capital markets regulator Sebi with Initial Public Offer.
IndiGo, which has grown rapidly to become India's biggest airline by market share, has now ordered 530 A320 family planes from Airbus, the planemaker said in a statement.
The bookings of tickets under the four-day "festive sale" offer have begun from Monday for the travel period from September 18, 2018 to March 30, 2019, IndiGo said.
India's biggest airline IndiGo is set to file the prospectus next week for a domestic stock market listing.
Broader market outperformed the frontline indices with the Smallcap and Midcap gaining up to 1%
'IndiGo 2018 is a harsh, ultra-lean, mean, zero asset, fighting machine with aspirations of taking on the global long-haul low-cost market.'
Investors remain cautious ahead of F&O expiry.
IndiGo was set up in 2006 by businessman Rahul Bhatia and Rakesh Gangwal, a former CEO for US Airways Group.
The only two truly successful private airlines in India - Jet Airways and IndiGo - have been set up and run by people who knew the ins and outs of the trade well before they took to the skies.
Vistara has a three-class configuration with business, premium economy and economy cabins.
IndiGo, Jet, SpiceJet and GoAir demand level playing field in aviation policy, say government can't favour only two new airlines.
The founders of IndiGo may have thought it's time to go for a rejig of the top leadership team which can take care of the growing demands of an airline that has grown much bigger than they could have ever imagined, says Shyamal Majumdar.
Focus will, however, shift back to corporate earnings, liquidity situation and global events - specially crude price.
Sensex, Nifty end lower on global concerns.
The NSE Nifty too ended 58.60 points, or 0.54 per cent, higher at 10,967.30 after shuttling between 10,985.15 and 10,928 during the session.
Axis Bank emerged as the biggest gainer in the Sensex pack, surging 6.62 per cent, followed by SBI at 5.88 per cent.
Apart from the main company, five of Air India's subsidiaries and a joint venture firm have been included in the strategic sale plan.
Despite having started at least a decade later than Jet Airways, IndiGo accounts for the lion's share in the domestic market
The seven Indian-Americans are cybersecurity firm ZScaler CEO Jay Chaudhry, founder and chairman of Symphony Technology Group Romesh Wadhwani, cofounder and CEO of online home goods retailer Wayfair Niraj Shah, Silicon Valley venture capital firm Khosla Ventures founder Vinod Khosla, managing partner of Sherpalo Ventures Kavitark Ram Shriram, Airline veteran Rakesh Gangwal and Workday CEO and co-founder Aneel Bhusri.
Index heavyweights continue to be top losers with ICICI bank.
Airline mum on offer plans, sources say it will be looking to raise around Rs 1,000-1,200 crore
Raamdeo Agrawal, joint managing director at Motilal Oswal Financial Services, tells Sheetal Agarwal key trends in this earnings season and investment themes in Indian markets.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Some of Modi's biggest reforms have met with fierce political opposition.
The broader NSE Nifty, after shuttling between 10,651.60 and 10.532.70 points on alternate bouts of buying and selling, closed 6.20 points, or 0.06 per cent, down at 10,576.30.
The broader NSE Nifty slipped below the 10,500-mark by falling 103 points, or 0.97 per cent, at 10,482.20. It touched a high of 10,645.50 and a low of 10,464.05 during the day.
IndiGo's co-founder and interim CEO Rahul Bhatia said profitability was significantly impacted by costs pressure from the increases in fuel price and the depreciation of rupee as well as competitive fare environment.
About Rs 12,000 crore are stuck in India's first hotel district, Delhi's Aerocity, because of red tape.
Ghosh, 43, will be reporting to 25-year-old Ritesh Agarwal, who founded OYO with a single hotel in 2013.
Oil & gas, banking and pharma sector stocks stole the show
The US FOMC concludes its two-day meeting today while the Bank of Japan will start its two-day meeting today.
The market breadth, indicating the overall health of the market, was positive
IndiGo has previously placed orders for 100 A320s and 180 A320neo planes.
The BSE benchmark Sensex surged about 241 points to end at 35,165.48 and the NSE Nifty gained 84 points to close at 10,688.65.
The top gainers on the Sensex are Gail(India), HDFC, Infosys.
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