IndiGo co-founder Rakesh Gangwal plans to sell up to $850 million worth of shares in InterGlobe Aviation through block deals, potentially at a discounted price of Rs 4,593 each, CNBC-TV18 reports. As of June 2024, Gangwal owns 5.89% of IndiGo, with his wife Shobha and JPMorgan Trust of Delaware holding a combined 13.49%, totaling 19.38%. This sale is part of the Gangwal family's strategy to gradually reduce their stake, following Gangwal’s resignation from the board in February 2022.
