BENGALURU (Reuters) – The family of IndiGo’s co-founder Rakesh Gangwal will sell operator Interglobe Aviation’s shares worth up to $450 million via a block deal on Wednesday, CNBC-TV18 reported on Tuesday, citing sources privy to the developments.
The offer floor price for the sale by Rakesh Gangwal and wife Shobha Gangwal is set at 2,400 rupees per share – nearly a 6% discount on the current market price.
IndiGo did not immediately respond to a Reuters request for comment.
In June, CNBC Awaaz had said in a report, citing sources, that the family was likely to sell between 5% and 8% of its stake worth up to 75 billion rupees.
