CORPORATE
Rakesh Gangwal, family trust offload 5.7% in IndiGo for Rs 11,559 crore
- IBJ Bureau
- May 28, 2025
InterGlobe Aviation promoter Rakesh Gangwal and his family trust on Tuesday sold a 5.7 per cent stake in IndiGo for about Rs 11,559 crore through a block deal, a PTI report confirmed citing sources. Following the transaction, shares of InterGlobe Aviation, which owns the airline, went down by 2.20 per cent to trade at Rs 5,301 apiece on the NSE.
The sources further confirmed that apart from Mr Gangwal, the Chinkerpoo Family Trust, whose trustees are Shobha Gangwal and JP Morgan Trust Company of Delaware, has also participated in this transaction.
Investment banking firms Goldman Sachs (India) Securities, Morgan Stanley India Company and JP Morgan India are the placement agents for the stake sale.
Before the sale, Mr Gangwal and the family trust together owned about 13.5 per cent in IndiGo.
According to the latest block deal, up to 2.21 crore equity shares were sold at a final price of Rs 5,230.50 per share. This is in accordance with the revised term sheet seen by the PTI. Total number of shares has been raised from the initial 1.32 crore shares mentioned in the earlier term sheet. The final price is at a 3.5 per cent discount compared to the closing price of Rs 5,420 per share on Monday.
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