27-05-2025
India's IndiGo co-founder to sell up to $1.4 billion worth of shares, term sheet shows
SYDNEY, May 27 (Reuters) - The co-founder of Indian airline IndiGo ( opens new tab, Rakesh Gangwal, will sell a stake of up to 5.7% in the low-cost carrier through a block deal worth up to $1.4 billion, a term sheet seen by Reuters showed on Tuesday.
The share sale will have a floor price of 5,175 rupees ($60.84), the term sheet showed, or a discocunt of 4.5% from the company's closing price on Monday.
($1=85.0630 Indian rupees)
