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NEW DELHI: InterGlobe Aviation’s promoter Shobha Gangwal on Wednesday sold a nearly 2.9% stake in the company for a little over Rs 2,800 crore through open market transactions. Shobha Gangwal is the wife of Rakesh Gangwal, the co-founder of the company, which is the parent of the country’s largest airline IndiGo.
The shares were sold in three bulk deal transactions.The shares were sold at a discount compared to Wednesday’s closing price of Rs 2,458 apiece on the BSE. At the end of the June quarter, Rakesh Gangwal and his wife Shobha Gangwal had 13.2% and 3% stakes, respectively, in the company.
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