a day ago
India's IndiGo promoter likely to sell part of stake via block deals, CNBC-TV18 says
June 13 (Reuters) - Indian airline IndiGo's ( opens new tab promoter group, Interglobe Enterprises, will likely sell about a 4% stake through block deals and is looking to raise around $1 billion from the sale, news channel CNBC-TV18 reported on Friday, citing sources.
Interglobe Enterprises holds a 35.71% stake in IndiGo, as per data from exchanges.
Reuters was not able to confirm the report independently. IndiGo and Interglobe Enterprises did not immediately respond to Reuters' requests for comment.
IndiGo's co-founder Rakesh Gangwal sold a 5.7% stake worth $1.36 billion in the low-cost carrier through a block deal, Reuters reported on May 27.
Shares of the airline were down all through Friday, a day after more than 240 people were killed when an Air India plane bound for London crashed moments after take-off in India's Ahmedabad city.
($1 = 86.0990 Indian rupees)
