If you read all the disparate threads on this website, and compile all the information on the internet about IndiGo, you will come to realize the following consistent facts embedded within all the rumours...check CAE and ICPilot's IndiGo program websites...they list these exact reqs:
1) To be an SO (non-line released) you have to apply w/ 500 ME, or 1000TT, or 100 on type AND have the type rating complete. After being an SO for 300 hrs at IndiGo, you become "line released" and get FO pay.
NOTE: According to numerous posts in other threads, there are tons of SOs from the Simcenter/ICPilot and CAE programs who have been waiting for line training while their type ratings dwindle into expiry. I have not been able to locate ONE person who has a SO contract who has actually started their line training. If anyone out there HAS in fact started the SO program (and not just signed a piece of paper with the company...i.e. look at Jet + Randhem) please let us know! This might be because as an SO you have to fly your legs with a TRI/TRE...and there is a huge shortage of TRIs/TREs worldwide.
2) To be a line-released FO, you need 300 hrs on type. This is the only category of applicant who seems to actually be flying and getting paid. There are actually FOs flying with IndiGo. As said above, we have no contact with any SO who is actually building their 300 hours. I've looked and called about 20 people trying to figure it out.
3) DGCA requirements to have your license validated are 1000 hrs TT, or 500 ME, or 100 on type...as stated above as the mins for IndiGo SO slots. No matter what anyone tells you, you can't legally get your JAR/FAA licenses validated by DGCA unless you have the above!
4) There are plenty of Indian pilots I have spoken to who believe IndiGo might be bought out within the year. Not sure what basis these rumours have, but I know an experienced A320 driver who opted not to go b/c he believes they'll be bought out before all those planes even arrive.
5) Everything else sounds good about the company...just remember, there are plenty of SOs ahead of you...and the company might not be there by the time you get called up...so you're paying a lot of money for a spot at the back of the queue.