Nonetheless, a grand welcome awaited IndiGo’s stocks when it began trading on 2 December 2015. Unlike many stocks which are artificially pumped up during the IPO phase and crash as soon as their trading begins (the real test of a stock’s worth), IndiGo’s share got a 21-gun salute from the stock market. Investors lined up to buy IndiGo’s shares on the first day of its trading, pushing its stock by 17.5 per cent to breach the ₹900 benchmark.187 In contrast, the stocks of Jet and Spice crashed further by 4.27 per cent and 5.09 per cent, respectively, on that day.188
