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The family of IndiGo co-founder Rakesh Gangwal is set to sell a 3.1% stake in InterGlobe Aviation
IndiGo Stake Sale
The family of IndiGo co-founder Rakesh Gangwal is set to sell a 3.1% stake in InterGlobe Aviation, valued at about $801 million (Rs 7,020 crore), through block deals, The Economic Times (ET) reported.
The shares are being offered at Rs 5,808 apiece, nearly 4% lower than the prevailing market price, people aware of the matter told ET. As of June-end, the Gangwal family held 7.81% in the budget airline, comprising 4.73% directly by Gangwal and 3.08% through the Chinkerpoo Family Trust.
Goldman Sachs, Morgan Stanley, and JPMorgan are acting as bankers to the transaction, according to reports.
This stake sale marks another step in Gangwal’s phased exit from IndiGo, which began after he resigned from the board in February 2022. At that point, Gangwal and his related entities held nearly 37% in the company. Since then, he and his wife, Shobha Gangwal, have consistently pared their stake through multiple block deals.
As per the deal terms, the family has agreed to a 150-day lock-up period on further share sales, ET reported.
In May this year, Gangwal sold a 5.7% stake in IndiGo worth $1.36 billion, while earlier rounds in 2022 and 2023 also saw gradual trimming of their holding.
Here’s a smoother rewritten version in news style:
InterGlobe, CAE Launch Pilot Training Centre in Mumbai
CAE Simulation Training Pvt Ltd (CSTPL), a joint venture between InterGlobe Enterprises and CAE, has announced the opening of a new pilot training centre in Mumbai.
The 44,000-square-foot facility will accommodate up to six full-flight simulators (FFS) and is scheduled to begin operations in the first quarter of 2026 with two Airbus A320 simulators.
Civil aviation minister Ram Mohan Naidu recently noted that India will require 30,000 new pilots over the next two decades, a sharp rise from the current 7,000 pilots in the workforce.
With this new addition, CSTPL will operate four commercial aviation training centres in India, including facilities in Greater Noida, Gurugram, and Bengaluru, together capable of hosting up to 23 FFS.
The Mumbai centre will also provide a full suite of training programmes on Airbus, ATR, and Boeing aircraft, covering type rating, recurrent training, and proficiency checks.
According to official data, India issued 1,342 commercial pilot licences (CPL) in 2024, down 17% from 2023.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
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