InterGlobe Aviation Ltd, the owner of budget airline IndiGo, is reportedly planning to issue an initial public offering (IPO) worth nearly Rs 2,600 crore on 26 October.
The issue is expected to close on 28 October, according to the sources close to the developments.
The IPO will be the first in the aviation industry in the past nine years and also the biggest in three years.
The carrier will submit its IPO prospectus to the market regulator on Thursday, sources told Reuters. The indicative price band for the IPO is expected to be finalised next week.
IndiGo's offering will be the "second high-profile IPO" this month, following the launch of public offer worth Rs 1,150 crore by Coffee Day Enterprises Ltd (CDEL) on Wednesday.
The IPO market activity in the country is expected to reach a four-year high in 2015, as top brands like Cafe Coffee Day and IndiGo tap the capital markets.
Several companies have already raised Rs 6,600 crore so far this year and many are planning to "garner another Rs 20,000 crore" through IPOs.
Many other firms are expected to issue public offers in the coming festive season from Dussehra to Diwali. One of them is Infibeam, the first e-commerce firm to get the regulator's nod to go for an IPO.
The Securities and Exchange Board of India (SEBI) has already given its approval to 15 firms to go public. Another 17 companies are currently waiting to get a "green signal" from the regulator to issue their IPOs.
Overall, these 34 firms are projected to raise over Rs 20,000 crore through IPOs this year.