Co-founder Rakesh Gangwal ropes in 4 investment banks to manage his stake sale in IndiGo

Rakesh Gangwal, co-founder of IndiGo, has asked Citigroup, Goldman Sachs, Morgan Stanley and JP Morgan to manage the planned sale of his shares in the airline. He may sell at least 5-7% of his family's shareholding in the air carrier this year. Gangwal, his wife Shobha and their family trust together hold 36.6% stake in InterGlobe Aviation, the parent entity of IndiGo.