IndiGo falls 3% as shares worth ₹11,000 cr change hands; Rakesh Gangwal looks to exit
IndiGo promoter and co-founder Rakesh Gangwal, who holds 5.89% shares in the airline, is looking to exit the company by selling his stake.
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SpiceJet shares plunge 8.5% as Rakesh Gangwal denies stake buy claims
Separately, SpiceJet also says the airline and one of its lessors, Engine Lease Finance Corporation Aviation Services, have agreed on the out-of-court settlement
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.
IndiGo shares skid over 3% amid reports of Gangwal family selling stake
At present, Gangwal and his wife Shobha Gangwal hold 13.23% and 2.99% stake in IndiGo respectively, whereas the Chinkerpoo Family Trust holds a 13.5% stake in the airline.
IndiGo stock falls 4% amid block deal report
The stock was trading at ₹1,901 apiece on the National Stock Exchange (NSE) at 12:50 pm.
IndiGo share skids 4% amid report of stake sale by Gangwal family
Rakesh Gangwal and his family plan to raise ₹2,000 crore by selling 2.8% stake in InterGlobe Aviation through a block deal today
IndiGo cofounder Rakesh Gangwal donates ₹100 crore to IIT Kanpur
Rakesh Gangwal's donation to his alma mater IIT Kanpur was announced by the institute's director on Twitter.
Rakesh Gangwal quits IndiGo board, cites investing plans
In a letter to the InterGlobe Aviation board, Rakesh Gangwal said that he will reduce his equity stake in the company over the next five years.
Rakesh Gangwal’s resolution rejected at IndiGo EGM
The billionaire co-founder of IndiGo received a setback as shareholders of the airline refused to pass his resolution seeking changes in the articles of association of the company.
Rahul Bhatia’s IGE rebuts Gangwal’s claims
InterGlobe Enterprises said that related party transactions between IndiGo and itself stood at ₹150.12 crore in FY19, accounting for 0.53% of the airline’s turnover.
