The Rakesh Gangwal family is set to offload as much as 3.1 percent of their stake in InterGlobe Aviation through block deals worth approximately Rs 7,020 crore, CNBC Awaaz reported citing sources familiar with the development.
The floor price of the block is pegged at Rs 5,808 per share, which will be a 4% discount to last traded price, and is likely to be executed on August 28.
The transaction reflects a continued and gradual exit by the Gangwal family from IndiGo, after Rakesh Gangwal stepped down from the airline's board in February 2022. In 2025 alone, the Gangwal family has offloaded as much as 9 percent stake. As recently as May, a block deal was executed in IndiGo shares worth around Rs 11,900 crore.
Shares of Interglobe Aviation are higher by 31 percent so far this year, and over the last five years, they are higher by 400 percent.
As recently as last week, IndiGo was announced to be included in the benchmark Nifty 50 index, as a part of the semi-annual index reshuffle.
For the June quarter, the low-cost airline posted a profit of Rs 2,161 crore, down 21 percent as compared to a year ago. Revenue from operations for IndiGo rose 5 percent to Rs 20,496 crore from a year-ago period.
In a recent note, Kotak Securities has noted IndiGo’s capacity cuts were likely occurring at a slightly faster pace than its key competitor, however, the brokerage clarified that it was not a sign of weakening demand. Unlike its earlier approach of adding capacity in Q2 ahead of strong Q3 and Q4 demand, IndiGo is now focusing on measures to support yield growth during the festive season, Kotak note said.
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