Shares in InterGlobe Aviation Ltd, operator of India's biggest airline by market share, IndiGo, opened at 855.80 rupees, up 12 percent from its initial public offering price of 765 rupees in its market debut on Tuesday.

InterGlobe raised 30.1 billion rupees ($453.52 million) in a hotly anticipated IPO, which was subscribed over six times driven by strong demand from foreign institutional investors.

InterGlobe's IPO is the biggest Indian listing since Bharti Infratel Ltd's $750 million market debut in December 2012.