New Delhi, Nov. 21 -- IndiGo Airlines on Friday announced that it has approved an investment of $820 million (approximately Rs.7,270 crore) in its wholly-owned subsidiary, InterGlobe Aviation Financial Services IFSC Private Limited, for aircraft acquisition.

The airline said that the investment will be made through a combination of equity shares and 0.01% non-cumulative, optionally convertible, and redeemable preference shares (OCRPS), which will be distributed in one or more tranches.

"The Company will subscribe to equity shares of face value Rs.10 per share of IndiGo IFSC aggregating to $770 million," Indigo said, while the airline will subscribe 0.01% OCRPS amounting to $50 million at a face value of Rs.100 per share.

The funds rais...