Rakesh Gangwal, family trust sells 5.83% stake in IndiGo for Rs 10,500 cr

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Rakesh Gangwal, family trust sells 5.83% stake in IndiGo for Rs 10,500 cr - Business Standard

Quick Summary:

InterGlobe Aviation promoter Rakesh Gangwal and his family trust have reduced their stakes in the airline by selling a combined 5.83 per cent shareholding for about Rs 10,500 crore.A total of 2.25 crore shares or 5.83 per cent holding in InterGlobe Aviation were sold by Gangwal and Chinkerpoo Family Trust, whose trustees are Shobha Gangwal and JP Morgan Trust Company of Delaware.

In two separate regulatory filings, Rakesh Gangwal sold 22.50 lakh shares of InterGlobe Aviation and the Chinkerpoo Family Trust disposed of more than 2.02 crore scrips of the airline.

After the share sale, Gangwal's stake in InterGlobe Aviation has come down to 5.31 per cent from 5.89 per cent, while the Chinkerpoo Family Trust's stake has declined to 8.24 per cent from 13.49 per cent, the filing said.