Indigo's co-promoter Rakesh Gangwal resigns from board; will gradually reduce stake in airline over 5 years : The Tribune India

Indigo's co-promoter Rakesh Gangwal resigns from board; will gradually reduce stake in airline over 5 years

He and his related entities own around 37 per cent stake in this company

Indigo's co-promoter Rakesh Gangwal resigns from board; will gradually reduce stake in airline over 5 years

PTI file photo



PTI

New Delhi, February 18 

IndiGo's co-promoter Rakesh Gangwal on Friday resigned from the board of directors of parent company InterGlobe Aviation, stating that he will gradually reduce the equity stake in the airline over the next five years.

Gangwal and his related entities own around 37 per cent stake in this company. Rahul Bhatia and his related entities own around 38 per cent in InterGlobe Aviation.

"I have been a long-term shareholder in the company for more than 15 years and it's only natural to someday think about diversifying one's holdings," Gangwal said in his letter to the board members.

"Accordingly, my current intention is to slowly reduce my equity stake in the company over the next five-plus years," he added. -

#Indigo #rakesh gangwal

Tribune Shorts


Top News

16-year-old girl stabbed to death in Delhi’s Rohini

Delhi teen stabbed, bludgeoned to death by boyfriend in full public view; accused arrested

The accused, identified as 20-year-old Sahil, arrested from ...

Your responsibility to take care of law and order: Kejriwal tells Delhi L-G over Shahbad Dairy murder

Your responsibility to take care of law and order: Kejriwal tells Delhi L-G over Shahbad Dairy murder

The 16-year-old girl was stabbed to death allegedly by her b...

Wrestlers will be allowed to protest at any suitable place other than Jantar Mantar: Delhi Police

Wrestlers will be allowed to protest at any suitable place other than Jantar Mantar: Delhi Police

This comes a day after the Delhi Police clear the sit-in sit...

Hoshiarpur-born Chaman Lal becomes Birmingham’s first British-Indian Lord Mayor

Hoshiarpur-born Chaman Lal becomes Birmingham’s first British-Indian Lord Mayor

Very proud moment for me and our family, as a son of an army...


Cities

View All