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in Economy

IndiGo co-founder’s family to sell shares worth up to $450 million

by Editor August 15, 2023, 1:28 pm 1.8k Views

BENGALURU (Reuters) – The family of IndiGo’s co-founder Rakesh Gangwal will sell operator Interglobe Aviation’s shares worth up to $450 million via a block deal on Wednesday, CNBC-TV18 reported on Tuesday, citing sources privy to the developments.

The offer floor price for the sale by Rakesh Gangwal and wife Shobha Gangwal is set at 2,400 rupees per share – nearly a 6% discount on the current market price.

IndiGo did not immediately…

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