InterGlobe Aviation slips 5% after 4% equity changes hands via block deal

Rakesh Gangwal was set to pare his stake in IndiGo by a further 4 per cent via block deals on Thursday. The block deal was said to be for 1.56 crore shares worth Rs 2,930 crore

Shares of InterGlobe Aviation, which runs IndiGo airlines, fell 5 per cent on the BSE in Thursday’s intra-day trade after over 4 per cent equity of the airline company changed hands via block deals.

At 09:15 am; around 16.08 million equity shares representing 4.17 per cent of total equity of InterGlobe Aviation had changed hands via a block deal on the BSE, the exchange data showed. The names of the buyers and sellers were not ascertained immediately.

As on December 31, 2022, co-promoter Rakesh Gangwal (13.24 per cent) and his wife Shobha Gangwal (7.04 per cent) collectively held