Discount airline IndiGo has announced its next destination. It has hired four banks to help it raise funds sometime this year. The money will come either through an IPO or a private placement. The four banks trying to raise funds for IndiGo are Morgan Stanley, UBS, Credit Suisse and Citi. The potential money-raiser is intended for IndiGo alone and not its parent company InterGlobe Aviation. IndiGo has already announced plans to go international next year and add 19 Airbus A320 aircraft to its fleet by the end of 2011.
Parliament reopened to noisy scenes on Thursday. The big issue: Naxal rebels who killed 76 policemen in an attack last week. Angry members of the opposition attacked the government’s handling of rebels. Yashwant Sinha of the BJP led the attack, saying the ruling UPA coalition was divided within on dealing with Naxals. And other members of the opposition weighed in soon after.
Home minister P. Chidambaram responded to the criticism with a statement describing government strategy for dealing with Naxal rebels.
Inflation finally eased in March, rising below street expectations. The wholesale price index climbed 9.9% last month compared to a year earlier. February’s rise was just a notch lower at 9.89%. Still, Thursday’s figures are provisional and could be revised upwards. The government has already changed its estimate for January inflation from the original 8.6% to 9.4%.