IndiGo block deal: 1.7 crore shares change hands in block deal
Back in September last year, Gangwal and his wife had divested a 2.74 percent stake in the parent company InterGlobe Aviation for Rs 2,005 crore through open market transactions.
In a large Trade, 1.7 crore shares or 4.4 percent equity worth Rs 3,221 crore of InterGlobe Aviation the parent company of IndiGo airlines changed hands in a block deal in early morning trade.
Yesterday CNBC-TV18 had reported that the budget airline's co-promoter Rakesh Gangwal's wife Shobha Gangwal are likely to sell a 4 percent stake in the company via a block deal.
Back in September last year, Gangwal and his wife had divested a 2.74 percent stake in the parent company InterGlobe Aviation for Rs 2,005 crore through open market transactions.
Gangwal resigned from the board of directors of the company in February 2022, stating that he will gradually reduce his equity stake over the next five years. Gangwal along with Rahul Bhatia co-founded the low-cost carrier IndiGo airlines.
According to the bulk deal data available with the National Stock Exchange (NSE), Gangwal and his wife Shobha Gangwal sold a total of 1.05 crore shares, amounting to a 2.74 percent stake in the company. The shares were sold in the range of Rs 1,886.47-1,901.34 apiece, valuing the transaction at Rs 2,004.77 crore.
First Published: Feb 16, 2023 9:26 AM IST
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