Shares of InterGlobe Aviation on Wednesday crashed over 11 per cent after a spat between its co-promoters became public. The sharp fall in the price, though expected, wiped off over Rs 6,400 crore in investor wealth. InterGlobe is the parent of IndiGo, India’s No. 1 airline.
InterGlobe Aviation Limited (IGAL) fell 10.73 per cent on the BSE to close at Rs 1,397.75 after diving 17.54 per cent intra-day to Rs 1,291. On the NSE, the scrip ended 11.12 per cent lower at Rs 1,392. Earlier in the session, it tanked 19.24 per cent to Rs 1,264.85.
The company’s market valuation declined Rs 6,422.6 crore to Rs 53,765.40 crore on the BSE.
