IndiGo has approved an investment of USD 820 million (about ₹7,270 crore) in its wholly owned subsidiary InterGlobe Aviation Financial Services IFSC Pvt Ltd to support aircraft acquisition.

The investment will be made through equity and 0.01% non-cumulative optionally convertible redeemable preference shares in one or more tranches, the airline said.

Funds raised by the subsidiary will be used primarily for acquiring aviation assets and enabling aircraft ownership.

IndiGo has 411 aircraft in its fleet as of November 21, according to planespotter.net, with 365 in operation and 46 grounded.