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Promoter selling in 2024 has stood at the highest level in 5 years, with Rakesh Gangwal topping the chart.

Promoter selling in 2024 tops Rs 1.5 lakh crore; highest in 5 years 

Rakesh Gangwal on Monday sold his 5.83 per cent stake, or 2.25 crore shares, worth Rs 6785 crore in InterGlobe Aviation. The share was priced at Rs 3016 in the deal.

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InterGlobe Aviation trades flat after Rakesh Gangwal sells stake worth Rs 6785 cr in aviation firm? Who is buyer?

The Gangwal family has a 25.22 per cent stake in InterGlobe Aviation. InterGlobe Enterprises (the Bhatia Family) is the biggest stakeholder in the company with a 38.1 per cent stake. Westbridge Capital has a minority stake at 3.4 per cent.&nbsp;The Gangwal family sold its 4.5 per cent stake in the company on August 16, 2023.&nbsp;There was a lock-in period&nbsp; of 150 days for further stake sale, which ended today.

&nbsp;

InterGlobe Aviation stock slips as Gangwal family's lock-in period to sell further stake ends

“We would like to state that the company has not received any such information nor has the company been made aware by the co-founder of their intention to sell their stake,” IndiGo said in its exchange filing on Tuesday.

IndiGo clarifies on co-founder stake sale report, stock extends decline; what should be your strategy?

The family of IndiGo's co-founder Rakesh Gangwal was likely to sell between 5%-8% stake in the Indian airline's parent InterGlobe Aviation Ltd, worth upto 75 billion rupees ($909.58 million), CNBC Awaaz said in a report, citing sources.

IndiGo: Co-founder Rakesh Gangwal's family likely to sell stake worth up to Rs 7,500 crore

IndiGo parent firm InterGlobe Aviation shares remain under pressure amid reports that co-founder Rakesh Gangwal’s wife Shobha Gangwal offloaded around 4 percent stake or 1.56 crore shares worth Rs 2,930 crore in India’s largest airlines by market share in a block deal.

 IndiGo shares tumble on promoter reducing stake via block deal

IndiGo co-founder Rakesh Gangwal resigns from board, to cut down stake

Rakesh Gangwal said that the AGM notice, along with the "unnamed sources"-planted "press reports that the Chairman has brokered peace and matters have been resolved, leaves a misleading and false impression that issues on RPTs and changes to the Articles have the support of both promoter groups".

Rakesh Gangwal letter on IndiGo resolution: Blow by blow rejoinders

IndiGo promoter Rahul Bhatia has hit back at co-promoter Rakesh Gangwal’s demand for more control, saying that he has played a more significant role and undertaken financial risks while Gangwal limited his own.

IndiGo promoter dispute: Gangwal limited financial risks, says Bhatia camp

In a bid to counter co-promoter Gangwal`s recent allegations of "collapsing" corporate governance in the company, IGE, which is owned by Rahul Bhatia, has so far issued three statements in the past week.

At IndiGo, IGE says Rakesh Gangwal limited his financial risks 

The list has been topped by 60-year-old Gates who has a net worth of 81 billion dollars.&nbsp;

Five Indian-Americans among richest people in US: Forbes

rakesh-gangwal

Promoter selling in 2024 has stood at the highest level in 5 years, with Rakesh Gangwal topping the chart.

Rakesh Gangwal on Monday sold his 5.83 per cent stake, or 2.25 crore shares, worth Rs 6785 crore in InterGlobe Aviation. The share was priced at Rs 3016 in the deal.
 

The Gangwal family has a 25.22 per cent stake in InterGlobe Aviation. InterGlobe Enterprises (the Bhatia Family) is the biggest stakeholder in the company with a 38.1 per cent stake. Westbridge Capital has a minority stake at 3.4 per cent. The Gangwal family sold its 4.5 per cent stake in the company on August 16, 2023. There was a lock-in period  of 150 days for further stake sale, which ended today.
 

“We would like to state that the company has not received any such information nor has the company been made aware by the co-founder of their intention to sell their stake,” IndiGo said in its exchange filing on Tuesday.

The family of IndiGo's co-founder Rakesh Gangwal was likely to sell between 5%-8% stake in the Indian airline's parent InterGlobe Aviation Ltd, worth upto 75 billion rupees ($909.58 million), CNBC Awaaz said in a report, citing sources.

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Rakesh Gangwal

Promoter selling in 2024 tops Rs 1.5 lakh crore; highest in 5 years

InterGlobe Aviation trades flat after Rakesh Gangwal sells stake worth Rs 6785 cr in aviation firm? Who is buyer?

InterGlobe Aviation stock slips as Gangwal family's lock-in period to sell further stake ends

IndiGo clarifies on co-founder stake sale report, stock extends decline; what should be your strategy?

IndiGo: Co-founder Rakesh Gangwal's family likely to sell stake worth up to Rs 7,500 crore

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