Rakesh Gangwal, co-founder of

INDIGO

sold a 5.8% stake in Company.

Rakesh Gangwal, co-founder of

, sold a 5.8% stake in InterGlobe Aviation (IndiGo’s parent company) through a major block deal worth ₹11,928 crore. The deal involved about 22.5 million shares sold at an average price of ₹3,016 each. This move is part of Gangwal’s ongoing strategy to gradually exit his investment after resigning from the board in 2022. Post-sale, his individual holding falls to around 6%, while the promoter group retains 57.3%. Market Reaction and Institutional Involvement:- The deal was facilitated by global investment banks including Goldman Sachs, JPMorgan, and Morgan Stanley, with the latter acquiring 0.5% for ₹633 crore. Following the transaction, IndiGo’s stock dipped by nearly 3% due to concerns over promoter exit. This marks one of the largest equity offloads in India since 2019 and underscores Gangwal’s consistent divestment approach over the last few years.