By Admin 
Rakesh Gangwal, co-founder of India’s airline IndiGo, is going to sell his 3.4 per cent stake. This deal will be done for about 6,800 crores through Block Deal. This step is part of his long-term exit plan, under which he is gradually working on a plan to get out of the company.
According to the information, the floor price per share for this transaction has been fixed at Rs 5,175, which is about 4.6 percent less than the previous closed price of Rs 5,424. At present, Gangwal and their associated institutions have a total of 13.53 percent stake in Indigo.
Constant stake deduction in previous years also
Rakesh Gangwal and his family have steadily reduced their stake in the last few years. In August 2023, 5.83 percent stake was sold for 10,500 crores. In March 2023, 6 per cent stake was sold for 6,786 crore. In August 2023, his wife Shobha Gangwal sold 3 per cent stake for 2,802 crores. In February 2023, the family sold 4 per cent stake for 2,900 crores. September 2022: 2.8 percent stake was sold for 2,000 crores.
Gangwal wants to take full exit!
Rakesh Gangwal resigned from the Indigo board on 18 February 2022 and only then announced that he would gradually sell his stake in the coming five years and come out of the company. This recent deal is part of the same process from which the Gangwal family is moving towards the exit completely from Indigo.
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