IndiGo co-founder sells 5.83% stake for Rs 6,785 crore

Mumbai, March 11 Rakesh Gangwal, the co-founder of the country’s largest airline IndiGo, on Monday sold 5.83 per cent stake in the carrier for Rs 6,785 crore through open market transactions. The stake sale is part of Gangwal’s decision to...

PTI

Updated At : 12:20 PM Mar 12, 2024 IST

Mumbai, March 11

Rakesh Gangwal, the co-founder of the country’s largest airline IndiGo, on Monday sold 5.83 per cent stake in the carrier for Rs 6,785 crore through open market transactions.

The stake sale is part of Gangwal’s decision to trim his shareholding, a decision announced in February 2022 after a bitter feud with co-founder Rahul Bhatia over alleged corporate governance issues. A total of 2.25 crore shares of InterGlobe Aviation were sold in three tranches, with the price ranging from Rs 3,015.10 to Rs 3,016.36 apiece.

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