Shares of InterGlobe Aviation, which runs India’s largest budget airline IndiGo, slipped 8 per cent to Rs 1,487 in intra-day trade on the BSE on Thursday on the back of heavy volumes amid reports of rift between the company’s promoters.
According to a business television report, differences have surfaced between Rahul Bhatia and Rakesh Gangwal over managerial control of the firm. The report quoted sources as saying that the two partners have approached different law firms.
Rahul Bhatia currently holds 38 per cent stake in InterGlobe Aviation, the parent company of IndiGo, while Gangwal holds 37 per cent share in the company. The airline was founded by Bhatia and Gangwal in 2006.
