Rakesh Gangwal To Sell 2.8 percent In Indigo
The Rakesh Gangwal promoter group, which includes Gangwal himself, his wife Shobha Gangwal and the Chinkerpoo Family Trust, collectively owned a 36.6 per cent stake in the company as of June 30, 2022
Rakesh Gangwal, co-founder of India’s biggest airline, IndiGo, will sell up to a 2.8 per cent stake in Interglobe Aviation through a block deal, fetching him at least USD 250 million, various media reports suggested. The Rakesh Gangwal promoter group, which includes Gangwal himself, his wife Shobha Gangwal and the Chinkerpoo Family Trust, collectively owned a 36.6 per cent stake in the company as of June 30, 2022.
Shares of the firm will be offered to institutional buyers at a floor price of Rs 1,850 apiece, a discount of nearly 6.5 per cent on the closing price of Rs 1,977 apiece on the NSE on Wednesday. Investment banks Morgan Stanley India, Goldman Sachs (India) Securities and J.P. Morgan India are the brokers of the block trade. The block trade will be executed on September 8.