Rakesh Gangwal, family trust to sell 3.1% stake in IndiGo for ₹7,027 crore

NEW DELHI: Rakesh Gangwal, co-founder of IndiGo, and his family trust plan to divest up to 3.1 per cent in InterGlobe Aviation on Thursday, raising around Rs 7,028 crore.

The sale will involve 1.21 crore shares at a floor price of Rs 5,808 each, almost 4 per cent lower than IndiGo’s last close of Rs 6,050 on the NSE. Following the transaction, their holding will decline from 7.81 to 4.71 per cent. Goldman Sachs, Morgan Stanley and JP Morgan are acting as brokers. The vendors and their relatives will face a 150-day lock-up, with one exception for a negotiated block trade. Gangwal has been steadily reducing his stake since resigning from the board in 2022 after a feud with

co-founder Rahul Bhatia.