InterGlobe Aviation Drops Over 4% As 3.7% Equity Shares Change Hands

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Last Updated: February 16, 2023, 09:43 IST

According to a CNBC TV-18 report, 1.7 crore shares (4.4% equity) InterGlobe Aviation the parent company of IndiGo airlines, worth Rs 3,221 crore, changed hands via block deals on Thursday.

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Indigo Shares Today

IndiGo stock lost 4.48 per cent to Rs 1,897.00 against the previous close of Rs 1,912.05 on NSE. The market capitalization of the aviation company stood at Rs 73,346 crore.

Back in September last year, Gangwal and his wife had divested a 2.74 per cent stake in the parent company InterGlobe Aviation for Rs 2,005 crore through open market transactions.

Yesterday CNBC-TV18 had reported that the budget airline’s co-promoter Rakesh Gangwal’s wife Shobha Gangwal are likely to sell a 4 per cent stake in the company via a block deal.

The block deal, according to reports, has been launched for 1.56 crore shares. The offer floor price for the sale by Shobha Gangwal has been set at Rs 1,875 per share.

The price is at a 5.6 per cent discount to InterGlobe’s Wednesday closing price.

There is a lockup period for 150 days post block deal, according to reports.

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