InterGlobe Aviation, the parent of budget airline IndiGo, will be in focus on Thursday as the Rakesh Gangwal family is set to pare its stake through block deals worth about ₹7,020 crore.
According to a CNBC Awaaz report, the family intends to sell up to 3.1% stake in the company at a floor price of ₹5,808 per share, about 4% lower than the previous session’s close. The deal is expected to be executed on August 28.
This marks another step in the Gangwal family’s gradual exit from the airline. Since Rakesh Gangwal’s resignation from the board in February 2022, the family has consistently reduced its stake, raising over ₹45,300 crore through multiple share sales. Key divestments include:
- September 2022: 2.74% stake for ₹2,005 crore.
- February 2023: 4% stake by Shobha Gangwal for ₹2,944 crore.
- August 2023: 2.9% stake for just above ₹2,800 crore.
- August 2024: 5.2% stake for ₹9,549 crore.
- May 2025: Shares worth nearly ₹11,900 crore offloaded.
Post this block deal, the Gangwal family’s holding in IndiGo will reduce to 4.78%, valued at around ₹11,169 crore.
Meanwhile, brokerage Kotak Securities noted that IndiGo’s capacity cuts are happening slightly faster than peers but clarified this does not indicate weakening demand. Instead, the airline is focusing on yield growth during the upcoming festive season.
