IndiGo hikes borrowing limit by 50%, set to induct 3 more directors

NEW DELHI: InterGlobe Enterprises, which operates no-frills airline IndiGo, has increased its borrowing limit by 50% to Rs 15,000 crore and decided to induct three more directors — two of them are independent members and the third is Rohini Bhatia, wife of co-founder Rahul Bhatia. Industry experts see these steps as a prelude to a major expansion at the airline and a possible initial public offering later this fiscal year.

The increase in borrowing limit has come two and a half years after the board raised it to Rs 10,000 crore from Rs 2,500 crore. There have been talks for some time of the company getting ready for an IPO to raise Rs 2,500 crore.

According to new regulatory requirements, all listed companies need to have at least one woman director. InterGlobe previously didn't have any woman representative on its board.
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