InterGlobe Enterprises Sells 2% Stake in IndiGo for Rs 3,367 Crore

InterGlobe Enterprises, the promoter entity of InterGlobe Aviation, sold a 2% stake in the airline for Rs 3,367 crore through an open market transaction. The sale reduced their shareholding in the company from 37.75% to 35.76%. Citigroup Global Markets Mauritius acquired a 0.81% stake in the transaction.

InterGlobe Enterprises, the promoter entity of InterGlobe Aviation, executed a significant financial maneuver on Tuesday by selling a 2 per cent stake in the airline, raising Rs 3,367 crore through an open market transaction.

According to bulk deal data from BSE, InterGlobe Enterprises Pvt Ltd sold a substantial 77,19,573 equity shares, equating to a 1.99 per cent stake in the airline, which is known for operating the IndiGo brand. These shares were offloaded at an average price of Rs 4,362.04 apiece, resulting in a transaction value of Rs 3,367.31 crore.

Post-transaction, InterGlobe Enterprises' shareholding in InterGlobe Aviation decreased to 35.76 per cent from 37.75 per cent. On the flip side, Citigroup Global Markets Mauritius took up 31.23 lakh shares, representing a 0.81 per cent stake, at an average share price of Rs 4,361 each, culminating in a transaction value of Rs 1,362.16 crore. The identities of other buyers remain unknown. Following the news, InterGlobe Aviation's shares dipped 4.26 per cent, closing at Rs 4,368.20 on the BSE. InterGlobe Enterprises continues to have diverse business interests, ranging from hospitality, logistics, and airline management to advanced pilot training and aircraft maintenance engineering.

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