The company will seek approval at AirAsia India's next board meeting to pick a banker to start the preliminary process for the IPO, Mr Fernandes said on Twitter.
"Analysts (are) giving zero value to AirAsia India. Not far from 20 planes and a potential IPO," Mr Fernandes tweeted.
It's a "very valuable asset with huge growth potential", he said.
($1 = Rs 63.6650)
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