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Co-founder Rakesh Gangwal mops up Rs.6,786-Cr from 6% stake sale in Indigo Airlines

Business Standard  

Co-founder Rakesh Gangwal has divested a 6% stake in InterGlobe Aviation (Indigo) through bulk deals to mop up INR 6,786 crore. He sold 23 million shares at INR 3,016 a piece. Morgan Stanley Asia picked up shares worth INR 633 crore. Morgan Stanley, Goldman Sachs, and JP Morgan were the investment banks handling the share sale.Before the stake sale, the Gangwal family held about 25.2% in Indigo. At the end of the December 2023 quarter, Gangwal directly held 11.72% in the company.

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