IndiGo shares slump as promoter feud escalates

Mumbai: Shares of InterGlobe Aviation Ltd, parent of the country’s largest airline IndiGo, on Wednesday slumped over 17% after its co-founder raised corporate governance issue with market regulator Securities and Exchange Board of India (Sebi).

The stock touched a low of ₹1291 and fell as much as 17.55%. At 9.30 am, the scrip was trading at ₹1327.30 on BSE, down 15.23% from previous close. So far this year it has gained 21%.

Rival SpiceJet Ltd surged 8% to ₹126.65.