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Shares of IndiGo owner InterGlobe Aviation Ltd slumped as much as 5.6 per cent after falling 2.2 per cent on Thursday.
India's biggest airline has expressed interest in buying a stake in Air India after the government gave “in-principle" approval to privatise the debt-laden state-owned carrier.
Analysts have cited concerns about such an investment, given Air India has Rs 52,000-crore ($8.04 billion) debt as per government data.
“The singular concern for any suitor of Air India is its over-leveraged balance sheet,” ICICI Securities says in a note.
Up to Thursday's close, InterGlobe had risen 50.5 per cent this year.
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