The stock of InterGlobe Aviation Ltd, the parent company of IndiGo Airlines, slipped nearly 3% on Tuesday following reports that co-founder Rakesh Gangwal and his family trust have offloaded a significant portion of their stake in the company.
According to market sources, Gangwal sold around 5.7% equity through a block deal, amounting to approximately ₹6,831 crore. The deal involved 22.1 million shares priced at ₹5,230.5 per share — a discount of about 3.5% from Monday’s closing price.
This latest divestment is part of Gangwal’s broader exit strategy. After stepping down from the board in 2022 amidst a public fallout with fellow co-founder Rahul Bhatia, Gangwal had announced plans to gradually reduce his holdings in the airline. This transaction reinforces that commitment.
Market Reaction & Analyst Take
The news sent ripples through the market, with investors reacting to the shift in promoter holding. IndiGo’s stock witnessed a decline in early trade, reflecting temporary jitters over corporate governance and ownership reshuffle.
However, market analysts believe the increased public float could attract more institutional investors over time. Some even suggest the sale might improve liquidity and boost long-term investor confidence, especially given IndiGo’s dominant position in India’s aviation sector.
What Lies Ahead?
Despite the stake sale, IndiGo remains one of the strongest players in India’s skies. With plans for fleet expansion and increased international routes, the airline continues to chart an ambitious growth path.
While the immediate reaction was negative, the long-term outlook remains cautiously optimistic — especially if the airline manages to maintain its operational edge and market leadership.
