The Rakesh Gangwal family, which owns 30 per cent stake in InterGlobe Aviation, may sell upto 8 per cent stake in India’s largest private airline via block deals by July.
The stake is valued at Rs 7,437 crore taking into account today’s share closing price of Rs 2,411 a share. The airline’s total market valuation was Rs 92,957 crore.
The family is bringing its stake down since September last year when it first sold a tranche of 2.8 per cent worth Rs 2,000 crore. The family sold another 4 per cent stake in February this year for Rs 2,900 crore. “Institutional investors have been approached by investment bankers seeking their interest in the stake.
