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Rahul Bhatia sells 2% stake in Indigo for Rs.3,400-Cr

Business Standard  

Rahul Bhatia-led InterGlobe Enterprises (IGE) has sold a 2% stake (7.72 million shares) in InterGlobe Aviation (IGA), the group firm which runs the low-cost airline Indigo, via a block deal to raise INR 3,400 crore. As of March 2024, IGE held a 37.7% stake in IGA.The funds raised by IGE through the latest sale is expected to be used for scaling up its hospitality business,InterGlobe Hotels, and incubating other ventures. InterGlobe Hotels, a joint venture between IGE and Accor, runs 21 Ibis Hotels across India.