IndiGo's board approves Venture Capital division
AVIATION & AIRPORTS

IndiGo's board approves Venture Capital division

InterGlobe Aviation, the parent company of India's leading airline, IndiGo, has received board approval to establish a Venture Capital division. In an official announcement to the stock exchanges, the company revealed that its Board of Directors has given the green light to incorporate a Private Limited Company, initially funded with Rs 300 million.

The primary focus of this new division will be investing in early-stage companies operating in aviation and related consumer sectors, including travel, lifestyle, hospitality, and transportation, as stated by an airline representative.

The board has endorsed the establishment of this investment within the Special Economic Zone at Gujarat International Finance Tec-City, as detailed in the exchange filing.

Furthermore, the board has sanctioned the issuance of corporate guarantees, amounting to a maximum of Rs 82.5 billion, to secure the financial obligations of the wholly-owned subsidiary.

Gaurav Negi, the airline's Chief Financial Officer, had previously mentioned the creation of this venture during a post-earnings conference call on August 2.

In another filing, the company announced its approval to place an order for 10 additional A320 NEO aircraft with Airbus, marking an amendment to the original 2019 purchase agreement. These 10 aircraft will augment the existing 300 aircraft order.

InterGlobe Aviation, the parent company of India's leading airline, IndiGo, has received board approval to establish a Venture Capital division. In an official announcement to the stock exchanges, the company revealed that its Board of Directors has given the green light to incorporate a Private Limited Company, initially funded with Rs 300 million.The primary focus of this new division will be investing in early-stage companies operating in aviation and related consumer sectors, including travel, lifestyle, hospitality, and transportation, as stated by an airline representative.The board has endorsed the establishment of this investment within the Special Economic Zone at Gujarat International Finance Tec-City, as detailed in the exchange filing.Furthermore, the board has sanctioned the issuance of corporate guarantees, amounting to a maximum of Rs 82.5 billion, to secure the financial obligations of the wholly-owned subsidiary.Gaurav Negi, the airline's Chief Financial Officer, had previously mentioned the creation of this venture during a post-earnings conference call on August 2.In another filing, the company announced its approval to place an order for 10 additional A320 NEO aircraft with Airbus, marking an amendment to the original 2019 purchase agreement. These 10 aircraft will augment the existing 300 aircraft order.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code