Other Deals - Listed Firms
IndiGo airlines' promoter Rakesh Gangwal sells 1.96% stake for Rs.4,390-Cr
The promoter of Gurugram-based InterGlobe Aviation , parent of the low-cost airline Indigo, Rakesh Gangwal and Chinkerpoo Family Trust have offloaded a 1.96% stake through a block deal, selling 7.56 million shares, raising about INR 4,390 crore (USD 501 million). This is less than the earlier plan to sell 12.1 million shares worth over USD 800 million.Goldman Sachs, Morgan Stanley and JP Morgan India were the placement agents for the stake sale.Founded in 2006, IndiGo is the largest passenger airline in the country. Indigo serves 80+ domestic destinations and 30+ international destinations.
Between Aug-20 and Sep-20, InterGlobe Aviation had attracted about USD 128 M from WestBridge.For FY25, InterGlobe Aviation had reported about INR 80,803 Cr in Operating Income and about INR 7,258 Cr in PAT.
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