Date
23 January 2017
Rahul Bhatia, who controls private Indian airline IndiGo, is said to be looking at fund-raising options for a group entity that is involved in travel technology solutions.
Rahul Bhatia, who controls private Indian airline IndiGo, is said to be looking at fund-raising options for a group entity that is involved in travel technology solutions.

Indian billionaire’s travel technology firm eyes IPO

InterGlobe Technology Quotient, a travel technology solutions provider that is controlled by Indian billionaire Rahul Bhatia, is eyeing an initial public offering or private equity round, Bloomberg news reported. 

The move is aimed at providing some existing investors in the company a chance to exit, the report said, citing people familiar with the matter.

The private-equity arms of Standard Chartered, DBS Group and Credit Suisse Group are among those that have invested in InterGlobe, which is based near New Delhi.

InterGlobe has hired bankers to explore options, and a decision is expected in about two weeks, sources were quoted as saying.

The company, which helps travel agents book airline tickets and hotel rooms, is expected to fetch a valuation in excess of US$600 million.

InterGlobe Technology Quotient is a part of InterGlobe Enterprises, the owner of the company that operates India’s biggest airline, IndiGo.

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