Promoter Interglobe Enterprises sells 2 pc stake in IndiGo for Rs 3,367 crore

NewsDrum Desk
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New Delhi, Jun 11 (PTI) Interglobe Aviation's promoter entity InterGlobe Enterprises on Tuesday pared a 2 per cent stake in the airline for Rs 3,367 crore through an open market transaction.

According to the bulk deal data available with the BSE, Interglobe Enterprises Pvt Ltd sold 77,19,573 equity shares, amounting to a 1.99 per cent stake in Interglobe Aviation, which operates the IndiGo brand airline.

The shares were offloaded at an average price of Rs 4,362.04 per piece, taking the transaction value to Rs 3,367.31 crore.

After the stake sale, the shareholding of Interglobe Enterprises in the company reduced to 35.76 per cent from 37.75 per cent.

Meanwhile, Citigroup Global Markets Mauritius acquired 31.23 lakh shares, representing a 0.81 per cent stake in InterGlobe Aviation.

The shares were bought at an average price of Rs 4,361 apiece, taking the transaction value to Rs 1,362.16 crore.

Details of the other buyers could not be ascertained.

Shares of InterGlobe Aviation slumped 4.26 per cent to settle at Rs 4,368.20 apiece on the BSE.

InterGlobe Enterprises has businesses across segments such as aviation (IndiGo), hospitality, logistics, airline management, travel commerce, advanced pilot training, and aircraft maintenance engineering. PTI HG HG SHW BAL BAL