InterGlobe Aviation promoter Rakesh Gangwal and his household belief on Tuesday trimmed their holdings by divesting a 5.72 per cent stake within the airline for Rs 11,564 crore by open market transactions.
A complete of two.21 crore fairness shares or 5.72 per cent had been offloaded by Gangwal and his household belief, the Chinkerpoo Family Trust, whose trustees are Shobha Gangwal and JP Morgan Trust Company of Delaware, as per the majority deal knowledge on the NSE.
After the most recent transaction, Rakesh Gangwal’s holding in InterGlobe Aviation declined to 4.7 per cent from 5.30 per cent and the Chinkerpoo Family Trust’s stake has additionally dipped to three.08 per cent from 8.23 per cent in India’s largest airline IndiGo.
Amid variations with co-founder Rahul Bhatia, Gangwal, in February 2022, resigned from the board of InterGlobe Aviation and Rakesh Gangwal stated he would progressively scale back his fairness stake over the subsequent 5 years.
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