
IndiGo shares fall 5% amid buzz over stake sale by Gangwal family
The Gangwal family led by Rakesh Gangwal looks to sell 4% stake in IndiGo at a floor price of ₹2,400 per share, a discount of 5.8% to Monday’s closing price.
The Gangwal family led by Rakesh Gangwal looks to sell 4% stake in IndiGo at a floor price of ₹2,400 per share, a discount of 5.8% to Monday’s closing price.
The aviation heavyweight has been witnessing profit booking after hitting its all-time high levels of ₹2,745.95 on July 13, 2023.
The airline is in talks with Airbus to lease 500 narrow-body A320 jets, which is expected to eclipse Air India's provisional purchase of 470 aircraft in February this year.
IndiGo’s profit was ₹919.2 crore in Q4 vs ₹1,681.8 crore loss in the same period last year. Revenue surged 76.5% YoY to ₹14,160.6 crore
The stock was trading at ₹1,901 apiece on the National Stock Exchange (NSE) at 12:50 pm.
Rakesh Gangwal and his family plan to raise ₹2,000 crore by selling 2.8% stake in InterGlobe Aviation through a block deal today