26/06/2015 7:31 PM IST | Updated 15/07/2016 8:25 AM IST

Indigo Airlines Expected To File $400 million IPO Next Week

In this photograph taken on November 10, 2014 an aircraft of the Indian budget carrier IndiGo undergoes maintenance at the Sri Lankan airlines technical service centre at the main international airport in Colombo. Sri Lanka has decided to build its own aircraft repair, maintenance and overall (MRO) facility targeting regional airlines after scrapping joint venture plans with a German company, officials said November 11, 2014. AFP PHOTO / LAKRUWAN WANNIARACHCHI (Photo credit should read LAKRUWAN WANNIARACHCHI/AFP/Getty Images)

India's biggest airline IndiGo is set to file prospectus next week for a domestic stock market listing that is expected to raise as much as $400 million, three sources with knowledge of the matter said.

IndiGo, owned by hospitality and travel company InterGlobe Enterprises, is aiming to get approval from India's market regulator in August before hitting the market later in the year, one of the sources said.

The timing of the market debut will, however, depend on market conditions, one of the sources said.

The sources declined to be named because they were not authorised to speak to the media.

IndiGo, founded in 2006, has used its low-cost model to stay profitable and become India's largest airline in a market enjoying double-digit growth in passenger numbers but where most carriers lose money because of tough competition and high costs.

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