buyers snap up jet airways  shares investors have snapped up shares in jet airways  india s biggest airline  following the launch of its much anticipated initial public offer (ipo).  the ipo for 17.3 million shares was fully sold within 10 minutes of opening  on friday. analysts expect jet to raise at least 16.4bn rupees ($375m; £198m) from the offering. interest in jet s ipo has been fuelled by hopes for robust growth in india s air travel market.  the share offer  representing about 20% of jet s equity  was oversubscribed  news agency reuters reported. jet  which was founded by london-based travel agent naresh goyal  plans to use the cash to buy new planes and cut its debt. the company has grown rapidly since it launched operations in 1993  overtaking state-owned flag carrier indian airlines. however  it faces stiff competition from rivals and low-cost carriers. jet s ipo is the first in a series of expected share offers from indian companies this year  as they move to raise funds to help them do business in a rapidly-growing economy.