Rakesh Gangwal and Family Trust Reduce Stakes in InterGlobe Aviation

Rakesh Gangwal and the Chinkerpoo Family Trust have sold 5.83 per cent of their shares in InterGlobe Aviation for Rs 10,500 crore. This move reduces their combined stake in the airline to 13.55 per cent. The sale follows a series of disposals amid corporate governance disputes with co-founder Rahul Bhatia.

Rakesh Gangwal, along with the Chinkerpoo Family Trust, has reduced their stake in InterGlobe Aviation by selling 5.83 per cent of their shares, valued at approximately Rs 10,500 crore.

A total of 2.25 crore shares were sold in this transaction. Gangwal and the trust have been gradually decreasing their holdings since February 2022 amid disputes with co-founder Rahul Bhatia.

The recent sale lowers their combined stake to 13.55 per cent, as IndiGo, India's largest airline, continues to expand its operations and introduce business class offerings.

(With inputs from agencies.)