Gangwals may sell 5.6% in IndiGo for $450mn
EW DELHI: IndiGo co-founder Rakesh Gangwal’s family is likely to sell 5.6% stake in the airline’s holding company InterGlobe Aviation (IGA) through a block deal worth up to $450 million on Wednesday, sources said. Gangwals currently hold 29.7% stake in the airline.
Morgan Stanley, JP Morgan, and Goldman Sachs will reportedly be conducting the block sale of over 1.5 crore shares at Rs 2,400 apiece – a 5.8% discount from Monday’s closing of Rs 2,548 on the BSE. IndiGo did not offer comments till the time of going to press.
