Rakesh Gangwal, the co-founder of IndiGo, on Thursday sold almost 2.75 per cent of his stake in the airline through block deals on the NSE for Rs 2,005 crore. Gangwal and his family held 36.61 per cent in InterGlobe Aviation, the parent of IndiGo at the end of June. Co-founder Rahul Batia and his family hold 38.17 per cent.
Gangwal and his wife Shobha sold nearly 1.06 crore shares on Thursday in four transactions, at prices ranging from Rs 1,886.47-1901.34 apiece. This marks a discount of at least 5 per cent to the closing price of the IndiGo scrip on Wednesday.
Details of the buyers were not provided by the exchange. The deals led to the shares of the budget airline ending in red.
