Shobha Gangwal, wife of IndiGo co-founder Rakesh Gangwal, divested a 4% stake in parent firm InterGlobe Aviation for INR 29.44bn through open market transactions
Gangwal had resigned from the board of directors of the company in February 2022, stating that he will gradually reduce his equity stake over the next five years.
According to the bulk deal data available with Bombay Stock Exchange (BSE) Shobha Gangwal offloaded a total of 15.6 million equity shares in three tranches, amounting to 4.04% stake in the company.
The shares were sold in the range of INR 1,885.72-Rs 1,889.19 per share, taking the aggregate value to INR 2,9.43 bn.
Post the latest transaction, Shobha Gangwal's shareholding has reduced to 3% from 7.04% stake in the company, shareholding data with the bourse showed. In September 2022, the Gangwals had offloaded a 2.74% stake in the company.