IndiGo co-founder Rakesh Gangwal sells 5.8% stake in parent company Interglobe Aviation for $820M, largest block equity sale in India since 2019.
IndiGo co-founder Rakesh Gangwal has sold a 5.8% stake in parent company Interglobe Aviation for approximately $820 million, marking the largest block equity sale in India since 2019. Gangwal sold 22.5 million shares at a price of between $3,015.10 and $3,016.36 per share. The stock has gained 6.5% this year and surged 48% last year, trading near a record high. This is the fourth time in two years that Gangwal has tapped investors through a block sale of IndiGo shares.
March 11, 2024
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