Will sell its 3.4% stake in Indigo’s co-founder company: will be a deal for Rs 6,831 crore; Gangwal family’s 13.5% stake in the airline

IndiGo is the largest company in the Indian airline market with 64% stake.

Rakesh Gangwal, co-founder of Indigo, the country’s largest airline, is selling his 3.4% stake in the company. According to Money Control, the Gangwal family and the Chunkarpu Family Trust Block Deal will sell these stakes for Rs 6,831 crore.

The floor price (minimum price) of shares for the deal has been fixed at Rs 5,175. This price is 4.5% lower than the shares’ closing price (Rs 5,424) on 26 May. Large investment banks like Goldman Sachs, Morgan Stanley and JP Morgan will execute the deal.

The Gangwal family currently holds 13.5% stake in IndiGo. Earlier in August 2024, the Gangwal family earned Rs 9,549 crore by selling 5.2% shares. In March 2024, shares worth Rs 6,783 crore were also sold.

Rakesh Gangwal resigned from the Board of Interglobe Aviation in February 2022, saying that he would gradually reduce his stake in the next 5 years. This deal is part of the same strategy.

Airline made a profit of 3000 crores

Interglobe Aviation, a company operating Indigo, has received a net profit of Rs 3,068 crore in the fourth of FY 2024-25. It has increased by 62% on an annual basis. It was Rs 1,895 crore in the same quarter of last year. The company has made this profit due to increasing demand in air travel.

In the January-March quarter, IndiGo operation rose 24% to Rs 22,152 crore on an annual basis. The company’s revenue was Rs 17,825 crore in the fourth quarter of FY24, the same quarter of a year ago. IndiGo released the January-March quarter and annual results on Wednesday (May 21).

IndiGo shares rise by 28% in 6 months

IndiGo shares closed down 1.76% today at Rs 5,424 level. The company’s stock has climbed 1% a month and 28% in 6 months. The company’s stock has climbed 27% in a year. Indigo’s market cap is 2.10 lakh crore rupees.

IndiGo became the world’s most valuable airline a month ago

A month ago, IndiGo Market became the world’s most valuable airline according to the captivity. According to Bloomberg, IndiGo achieved this position on 9 April, leaving the US based delta airlines behind for some time. However, IndiGo returned to the position of the second most valuable airline in the world after about 1 hour. Read full news …

Indigo is India’s largest airline

Indigo is the largest airline in the country in terms of market share. The company’s stock in the Indian airline market is around 64%. It was founded in 2006 by Rahul Bhatia and Rakesh Gangwal. It operates more than 2000 flights daily.

IndiGo flights run on more than 80 domestic destination and more than 30 international destinations. It combines 110+ destinations. The airline has more than 320 aircraft fleet. It has more than 50 crore customers.

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