Rakesh Gangwal’s wife pares 4 pc stake in IndiGo for Rs 2,944 cr

Shobha Gangwal, wife of IndiGo co-founder Rakesh Gangwal, on Thursday divested a 4 per cent stake in parent firm InterGlobe Aviation for Rs 2,944 crore through the open market transactions.

InterGlobe Aviation is engaged in the business of providing domestic and international air transport services under the name ‘Indigo’.

Rakesh Gangwal along with Rahul Bhatia co-founded low-cost carrier IndiGo airline.

Gangwal had resigned from the board of directors of the company in February 2022, stating that he will gradually reduce his equity stake over the next five years.