IndiGo promoters call EGM on Dec 30 to amend share clauses
The promoters of India’s largest airline, IndiGo, have called an extraordinary general meeting (EGM) on December 30 to scrap a clause in the company’s articles of association (AoA), which gives them the right of first refusal (RoFR) over acquisition of each other’s shares.
A removal of the clause will allow either side to sell or transfer shares to a third entity without giving each other notice.
On Monday, IndiGo informed the stock exchange that it had received a joint requisition from co-founders Rahul Bhatia of InterGlobe Enterprises and Rakesh Gangwal and his family for removing transfer restriction articles from the AoA. Together, the two promoters own 74.44 per cent stake in the airline.
