{"id":123863,"date":"2024-08-29T15:23:21","date_gmt":"2024-08-29T15:23:21","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/08\/29\/indigo-co-founder-rakesh-gangwals-family-trust-sells-big-stake-in-airline-times-of-india\/"},"modified":"2024-08-29T15:23:21","modified_gmt":"2024-08-29T15:23:21","slug":"indigo-co-founder-rakesh-gangwals-family-trust-sells-big-stake-in-airline-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/08\/29\/indigo-co-founder-rakesh-gangwals-family-trust-sells-big-stake-in-airline-times-of-india\/","title":{"rendered":"IndiGo co-founder Rakesh Gangwal&#8217;s family trust sells big stake in airline &#8211; Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"1280\" height=\"720\" src=\"https:\/\/i2.wp.com\/static.toiimg.com\/photo\/msid-112900559,imgsize-819392.cms?resize=1280,720&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"IndiGo co-founder Rakesh Gangwal&#8217;s family trust sells big stake in airline &#8211; Times of India\" title=\"IndiGo co-founder Rakesh Gangwal&#8217;s family trust sells big stake in airline &#8211; Times of India\" \/><\/div>\n<div>Rakesh Gangwal<!-- -->, co-founder of <!-- -->IndiGo Airlines<!-- -->, has sold a significant portion of his stake in the airline&#8217;s parent company <!-- -->InterGlobe Aviation<!-- --> through a <!-- -->block deal<!-- -->. Gangwal and the <!-- -->Chinkerpoo Family Trust<!-- --> sold 22.5 million shares at Rs 4,714.90 each, amounting to nearly $1.3 billion or Rs 9,549 crore.<br \/>The sale represents approximately 30% of Gangwal&#8217;s total stake in IndiGo.Prior to the transaction, Gangwal directly owned 5.89% of the company, while the Chinkerpoo Family Trust held 13.49%.<br \/>The share sale comes after IndiGo&#8217;s stock reached a record high of Rs 4,859.85 on Wednesday, having surged 92% over the past year. The block deal was priced at a premium to the floor price of Rs 4,593 per share, which was a 5.5% discount from the market price, said a Bloomberg report.<br \/>Gangwal had announced plans to gradually reduce his holdings after resigning from IndiGo&#8217;s board in February 2022. His wife, Shobha Gangwal, had already exited the airline completely in August 2023.<br \/>The sale marks the third-largest block equity transaction in India this year, after deals involving ITC Ltd. and Indus Towers Ltd. <br \/>IndiGo, India&#8217;s largest domestic carrier, has a market share of 62% as of July 2024, while closest rival Air India Ltd. holds 14%. <\/div>\n<p><script>\nvar _mfq = window._mfq || [];\n_mfq.push([\"setVariable\", \"toi_titan\", window.location.href]);\n!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n         function setAttributes() {\n                    var prime_user_status = window.isPrime ? 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Gangwal and the Chinkerpoo Family Trust sold 22.5 million shares at Rs 4,714.90 each, amounting to nearly $1.3 billion or Rs 9,549 crore.The sale represents approximately 30% of Gangwal&#8217;s total [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":123864,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/static.toiimg.com\/photo\/msid-112900559,imgsize-819392.cms","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[6418,995,100510,289,100509,7599,17,100511,273,5734,16247,67359,19828,100508,4872,2341,272,17319],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/123863"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=123863"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/123863\/revisions"}],"predecessor-version":[{"id":123865,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/123863\/revisions\/123865"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/123864"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=123863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=123863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=123863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}