A major block deal has been launched in InterGlobe Aviation Ltd (IndiGo), with co-founder Rakesh Gangwal set to offload up to ₹6,831 crore worth of shares, according to sources cited by CNBC Awaaz. Gangwal is expected to sell up to 3.4% equity in the company.
The floor price for the deal has been fixed at ₹5,175 per share, which represents a 4.5% discount to the current market price. The block deal book has officially opened, and the transaction is expected to attract significant institutional interest.
Goldman Sachs, Morgan Stanley, and J.P. Morgan are acting as the investment bankers managing the block deal.
The transaction is part of Gangwal’s ongoing strategy to gradually reduce his stake in IndiGo, following earlier share sales over the past year.
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