Rakesh Gangwal may offload another tranche of shares in IndiGo soon

IndiGo's net profit more than doubled on year in Q3.

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26 Aug, 2025 12:21

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IndiGo promoter Rakesh Gangwal is likely to offload another tranche of shares in the low-cost carrier soon, CNBC-TV18 reported on February 5 citing sources. Roadshows are also likely underway to gauge investor interest for the stake sale.

The lock-in period for the Gangwals before they can further pare stake in the company ends on February 13. The promoter family has already sold a total of over 12 percent equity in the company in three tranches. As of December end, the Gangwals held a 25.2 percent stake in IndiGo operator InterGlobe Aviation.

At 2.49 pm, shares of IndiGo were trading nearly 3 percent higher at Rs 3,210 on the NSE.

The stake sale is part of the Gangwal family's plans to reduce their holding in IndiGo over due course. Rakesh Gangwal had resigned from the board of directors of InterGlobe Aviation back in February 2022, stating that he will gradually reduce his stake in the low-cost airline over the next five years.

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Meanwhile, the company posted an impressive set of Q3 numbers. Its net profit more than double on year to Rs 2,998 crore from the year-ago period led by persistent demand for air travel and a fuel surcharge introduced in October, which offset the grounding of some aircraft.

The stellar quarterly not only triggered a positive response from analysts and investors but it also helped the stock soar to a record high of Rs 3,300 earlier in the session today.

Brokerages remain upbeat on the growth prospects of IndiGo, with several raising their price targets for the stock in response to its strong quarterly show.

Also Read | IndiGo flies to record high, brokerages cheer strong Q3 show

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