4% drop in InterGlobe Aviation shares due to 2.2% stake sale by InterGlobe Enterprises Private linked to Rahul Bhatia family.
InterGlobe Aviation, parent company of IndiGo airlines, saw its shares fall by 4% due to a block deal involving a 2.2% stake sale by InterGlobe Enterprises Private, a holding company linked to the Rahul Bhatia family. The stake sale, worth approximately $394 million, is expected to be used to invest in the family's hospitality business, particularly in Europe. This is the first significant stake sale by the Bhatia family since InterGlobe Aviation's IPO.
June 10, 2024
7 Articles