Indigo flight (File)
Rakesh Gangwal, co-founder of the country’s largest airline company Indigo, can reduce his stake by 5 to 8 percent. According to a CNBC report, the co-founders may reduce their stake by the end of this week through a block deal. This stake can be close to 5 to 8 percent, whose value can be more than Rs 7500 crore.
According to stock exchange data, Rakesh Gangwal and his wife Shobha Gangwal hold 13.23 per cent and 2.99 per cent stake, respectively, in InterGlobe as on March 31, while their Chinkarpu Family Trust holds 13.5 per cent. It has been said in the report that on July 15, co-founder Rakesh Gangwal and his family can reduce their stake through an open deal.
Resigned from the company board in 2022
Shobha Gangwal had cut her stake in the company by over 4 per cent in February. No official statement has come from InterGlobe Aviation and the Gangwal family in this matter. Rakesh Gangwal had resigned from the company’s board in February 2022 and said he would reduce his stake in the airline in five years. Rakesh Gangwal and Rahul Bhatia, who co-founded Indigo in 2006, parted ways in early 2020 after Gangwal sought to change certain rules in the company’s articles of association.
fall in company shares
After this news, there is a decline in the shares of the aviation company. At one o’clock in the afternoon, the stock of the company is trading at Rs 2399.25, down 2.54 per cent on the Bombay Stock Exchange’s flagship index Sensex. By the way, it went down to Rs 2377.95 during the trading session. The company’s stock had closed at Rs 2461.80 on Friday. In the current year, the company’s shares have seen an increase of more than 19 percent. InterGlobe shares have seen a jump after GoFirst was grounded.