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IndiGo's Gangwal raises $1.4 bn from stake sale
Hindustan Times East UP
|May 28, 2025
Billionaire Rakesh Gangwal raised ₹11,560 crore ($1.4 billion) selling a stake in IndiGo's parent as he continues to retreat from the airline he co-founded almost two decades ago.
Gangwal and the Chinkerpoo Family Trust sold 22.1 million shares, or a 5.7% stake, in InterGlobe Aviation Ltd, according to the terms of the deal. The number of shares on sale was increased from the 13.2 million initially offered. The final price of ₹5,230.50 apiece is a 3.5% discount to Monday's close.
This is Gangwal's third share sale since March 2024. He has previously sold shares worth more than $2 billion through block trades. This shows that he's pushing ahead with his plans to slowly pare his stake.
Gangwal, 71, co-founded IndiGo in 2006 with Managing Director Rahul Bhatia.
Dit verhaal komt uit de May 28, 2025-editie van Hindustan Times East UP.
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