Mumbai: IndiGo Co-Founder and Promoter Rakesh Gangwal Sold Shares Worth $ 1.35 billion in the airline through a block deal on tuesday, according to a term sheet accessed by Mint,
On Monday, Mint Reported that Gangwal was expected to sell shares Worth $ 803 Million via a Block Deal. However, the transaction size has been grown, according to the latest term sheet reviewed by Mint,
Under the updated terms, gangwal and his chinkerpoo family trust offloaded 22.1 million shares, or a 5.7% stake, at an offer price of 5,230.5 per share in interglobe aviation Ltd, which operates indigo, India’s largest airline. This price reflects a 3.5% discount to the stock’s monday closing price of 5,418 on the bse.
Following the Block Deal, Shares of the Company Traded at 5,294 a piece in opening deals, down from the previous close of 5,418 per share on the bse on Monday. IndiGo’s Shares Have Gained About 18% Over the Past Year.
As of 30 March 2025, Gangwal Held A 5.3% Stake in the company, while the chinkerpoo family trust owned 8.23%, according to bse data. In contrast, as of November 2015, Gangwal Owned 16.89% of IndiGo, and the Trust Held 15.64%, highlighting the significant Reduction in their combined holdings over time.
Goldman Sachs (India) Securities PVT, Morgan Stanley India Co, and JP Morgan India Pvt are arranging the trade. Goldman Sachs Declined to comment, While Gangwal, Morgan Stanley India, and JP Morgan India did not immediatily respond to mint’s requests for comment.
Gangwal has been given gradually reduction his stake in the airline following a settlement agreement with co-founder rahul bhatia. He Sold A 5.83% Stake on 29 August 2024, After offloading an Identical Stake on 11 April 2024.
Flying high
IndiGo Reported a 62% Surge in Profit in the Fourth Quarter Ended March, Driven by a Spike in Air Travel during the Mahakumbh Festival in January and februry.
In its recent earnings call, the company said it has damp-laased Six boeing 737 widebody aircraft to support interactive expansion, with one alredy deployed on the delhi-bangkokk rout.
The airline is also besting on Cargo Revenue as a Major Growth Opportunity. Management noted that India Currently Accounts for a Single-Digit Share of International Air Cargo, indicating significant upside potential.
“Indigo has a sturdy footing in its domestic business who enjoying over 60% market share. While covering over 89 destinations, the company has access to key ground slots at all prime axis,” Securities said in a 16 april report. The brokerage said the low-cost airline can benefit from better infrastructural spending at current key airports and further spending on building new airports at freshly corognised keey micro Markets.