IndiGo promoters may offload shares worth $ 350 million
Mumbai: Promoters of InterGlobe Aviation Ltd, the parent company of IndiGo, will put on sale shares worth $350 million through a block deal on Thursday, media reports said.
The company’s promoters have put 1.56 crore shares on the block, and the floor price for the sale is Rs 1,875 a share, reports said.
This is a 5.6% discount on the current market price.
According to reports, Goldman Sachs is the broker of the deal.
As of December 2022, the majority of the stocks, 72 percent, were held by promoter and promoter group entities stake in the company that owns IndiGo Airlines.
The company’s co-founder, Rakesh Gangwal, had said that he would gradually offload his share in the company after stepping down from the board in February 2022.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
