IndiGo co-founder’s family likely to sell stake worth up to $909.6 million, says report

The family of IndiGo’s co-founder Rakesh Gangwal was likely to sell between 5% and 8% stake in the Indian airline’s parent InterGlobe Aviation Ltd , worth up to 75 billion rupees ($909.58 million), CNBC Awaaz said in a report, citing sources.

Rakesh Gangwal and his wife, Shobha Gangwal, hold 13.23% and 2.99% respectively in InterGlobe as of March 31, while their Chinkerpoo Family Trust holds a 13.5% stake, according to exchange data.