InterGlobe Aviation promoter Rakesh Gangwal's family trust on Thursday sold a 5.24 percent stake in the airline for Rs 9,549 crore through open market transactions.
The share sale is part of Gangwal's decision in February 2022 to trim his shareholding after a bitter feud with co-founder Rahul Bhatia over alleged corporate governance issues.
Over 2.02 crore shares of InterGlobe Aviation were sold by the Chinkerpoo Family Trust in three tranches in a price range of Rs 4,714.95-4,715.89 per scrip, according to bulk deal data on BSE.
This took the combined transaction value to Rs 9,548.95 crore.
The scrip closed with a discount of 2.06 per cent against the benchmark Sensex ending in the green territory.
InterGlobe Aviation is the parent of no-frills carrier IndiGo, which has a domestic market share of more than 60 percent.
Meanwhile, Morgan Stanley Asia (Singapore) Pte picked up 28.54 lakh shares or a 0.74 percent stake in InterGlobe Aviation, as per the data on the BSE. -- PTI
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances
