Indigo Share Price: The stock of the company opened gap down at Rs 5,278 on the BSE, a loss of 2.74 per cent from the previous close of Rs 5,418.
Mumbai: Indigo Share Price: Shares of IndiGo opened gap down on Tuesday, i.e. on May 27, 2025, amid reports that InterGlobe Aviation promoter Rakesh Gangwal and his family trust are likely to offload up to 3.4 per cent stake worth at least Rs 6,831 crore in the airline. The counter opened gap down at Rs 5,278 on the BSE, a loss of 2.74 per cent from the previous close of Rs 5,418. It fell further to touch the low of Rs 5,256 – a dip of 3.14 per cent.
Rakesh Gangwal, the co-founder of IndiGo, has been offloading his holdings in a phased manner following a bitter fallout with co-founder Rahul Bhatia.
Gangwal, the co-founder of IndiGo, has been offloading his holding in a phased manner following a bitter fallout with co-founder Rahul Bhatia.
Apart from Gangwal, the Chinkerpoo Family Trust, whose trustees are Shobha Gangwal and JP Morgan Trust Company of Delaware, will be divesting 3.4 per cent stake in IndiGo, the country’s largest airline, the sources said.
Investment banking firms Goldman Sachs (India) Securities Pvt Ltd, Morgan Stanley India Company and J P Morgan India are the placement agents for the stake sale, they added.
Currently, Gangwal and the family trust together hold about 13.5 per cent in IndiGo.
Under the proposed transaction, to be executed on May 27, up to 1.32 crore equity shares will be sold at a floor price of Rs 5,175 per share, as per the term sheet accessed by PTI.
The floor price is at a 4.5 per cent discount compared to the closing price of Rs 5,420 per share on Monday.
The sources said 1.32 crore shares will amount to around 3.4 per cent stake in the company and the offer size, based on the floor price, is pegged at around USD 803 million or about Rs 6,831 crore.
The proposed share sale, to be done in multiple tranches on BSE and NSE, will be entirely secondary in nature and will not have any fresh issuance of equity.
As part of the deal structure, a 150-day lock-up period will apply to the vendors and their immediate relatives, barring one exception — they may transfer shares worth at least USD 300 million to a single investor or investor group through a negotiated transaction, subject to certain pricing and lock-up conditions.
