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Rakesh Gangwal sells IndiGo shares worth $1.35 billion
May 28, 2025
|Mint New Delhi
Gangwal has been gradually reducing his stake in the airline after a settlement agreement with Rahul Bhatia
IndiGo co-founder and promoter Rakesh Gangwal sold shares worth $1.35 billion in the airline through a block deal on Tuesday, according to a term sheet accessed by Mint. On Monday, Mint reported that Gangwal was expected to sell shares worth $803 million via a block deal. However, the transaction size has since grown, according to the latest term sheet reviewed by Mint.
Under the updated terms, Gangwal and his Chinkerpoo Family Trust offloaded 22.1 million shares, or a 5.7% stake, at an offer price of ₹5,230.5 per share in InterGlobe Aviation Ltd, which operates IndiGo, India's largest airline. This price reflects a nearly 3.5% discount to the stock's Monday closing price of ₹5,418 on the BSE.
هذه القصة من طبعة May 28, 2025 من Mint New Delhi.
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