InterGlobe Aviation’s (IndiGo) promoter Rakesh Gangwal. File
“InterGlobe Aviation’s promoter Rakesh Gangwal is likely to sell more than a 3% stake in the company through open market transactions,” in accordance to sources. The firm is the mum or dad of the nation’s largest airline IndiGo.
As of December 2023, promoters’ of InterGlobe Aviation owned a 63.13% stake in the corporate and Mr. Gangwal had an 11.72% shareholding.
The Chinkerpoo Family Trust, whose trustee is Shobha Gangwal and JP Morgan Trust Company of Delaware, owned a 13.49% stake, as per the shareholding knowledge on the BSE. Shobha Gangwal is the spouse of Rakesh Gangwal, the co-founder of the corporate.
As per the sources, shares amounting to greater than 3% stake are likely to be bought at a reduction to Thursday’s (March 7) closing value of ₹3,101.55 per share. The scrip closed with a achieve of 1% after touching an intra-day excessive of ₹3,128.95.
Amid variations with co-founder Rahul Bhatia, Mr. Gangwal, in February 2022, resigned from the board of administrators of InterGlobe Aviation and in addition mentioned that he would progressively scale back his fairness stake in the airline over the following 5 years.
