Overview

• The promoters will sell up to 1.21 crore shares, or 3.1% of InterGlobe Aviation, at a floor price of Rs 5,808 per share for about Rs 7,027.7 crore, with Goldman Sachs, Morgan Stanley and JPMorgan managing the block.
• Deal terms include a 150-day lock-up on any further share sales by the sellers.
• As of June end, Rakesh Gangwal held 4.73% and the Chinkerpoo Family Trust 3.08%, and the group would own about 4.78% after this sale.
• The move follows multiple secondary tranches since 2022 that have raised roughly Rs 45,300 crore as part of a five-year exit plan.
• IndiGo shares closed 1.08% lower at Rs 6,050 on the NSE after the update, while June-quarter profit fell 21% due to higher airport fees and regional airspace disruptions.