MUMBAI: Shares of IndiGo fell 17 per cent during early trade on Wednesday after the dispute between its promoters came out in the open.
At 9.47 am, the budget passenger carrier was trading at Rs 1,379.65 apiece, down by Rs 186.10 before hitting an intra-day low of Rs 1,291. Airline co-promoter and former US Airways Chief Executive and Chairman Rakesh Gangwal came on record to lodge his grievances against various issues pertaining to IndiGo.
In his letter to Securities and Exchange Board of India (SEBI) Chairman Ajay Tyagi and other top officials, Gangwal lamented that IndiGo has started veering off from the core principles and values of governance that made IndiGo what it is today.
