BENGALURU (Reuters) – 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.
The Gangwal family will likely sell stake in block deals when the lock in for shares open on July 15, the report said.
Shobha Gangwal had cut her stake in the company by over 4% in February.
