IndiGo owner’s shares slide 15% as founders’ row intensifies

Shares of Interglobe Aviation Ltd fell as much as 19 per cent on Wednesday after one of the co-founders of India’s largest airline IndiGo alleged violation of corporate governance rules at the parent group. Interglobe shares hit their lowest since March and were on course for their worst day since January 2016.

At 9.55 am, the stocks of InterGlobe Aviation were trading 12.61 per cent lower at ₹1,368.25.

IndiGo co-founder Rakesh Gangwal on Tuesday also asked the country’s securities regulator to intervene in the matter, a move that suggests that a previously reported row between Gangwal and fellow co-founder Rahul Bhatia was escalating.