IndiGo Block Deal: 6.7% equity worth 7,825 crore changes hands [Video]

As many as 2.6 crore shares or 6.7% equity of InterGlobe Aviation worth Rs ₹7,825 crore changed hands in block deals on Monday, March 11.

The official buyers and sellers in the transaction are not known yet.

Earlier sources had told CNBC-TV18 that Rakesh Gangwal, the promoter of InterGlobe Aviation, the parent company of IndiGo Airlines, was to sell up 5.8% stake in the airline.

The size of the stake sale had been raised from 3.3% to 5.8% and the total size of the block deals was likely to be Rs 6,581 crore, sources had said.  The floor price was set at ₹2,925 per share, with a 5.8% discount to CMP, the sources said.

As of December 2023, Gangwal held 25.2% stake in InterGlobe Aviation. The sources said that after the stake sale, his holding would reduce to 19.4%. There would be a 150-day lock-in period for further stake sale in the …