Shares of InterGlobe Aviation- the parent firm of IndiGo – jumped 5 per cent on BSE to an intra-day high of Rs 3,262 in Monday’s trade after over 20 million shares of the airline changed hands via a block deal. With this, the stock bounced back 8 per cent from its intra-day low of Rs 3,015.10.
At 09:15 am; around 22.88 million equity shares, representing 5.9 per cent of the total equity of IndiGo, changed hands on the BSE, the exchange data shows. The names of the buyers and sellers were not ascertained immediately.
As per a Bloomberg report, IndiGo promoter Rakesh Gangwal raised about $820 million from selling part of his holding, in the largest block equity sale in the country since 2019.
