Monday, July 14, 2025

Creating liberating content

NEW DELHI: Non-fossil fuel sources now make up half of

Chickpeas are a rich source of protein and other essential

A view of the Pentagon on December 13, 2024, in

An Electron rocket launches the Baby Come Back mission from

Related News

NEW DELHI: Non-fossil fuel sources now make up half of power generation capacity, a milestone the country has achieved five years ahead of the target set under its Nationally Determined

Chickpeas are a rich source of protein and other essential nutrients. According to the United States Department of Agriculture (USDA), dry chickpeas contain approximately 20.47 grams of protein per 100

A view of the Pentagon on December 13, 2024, in Washington, DC. Home to the US Defense Department, the Pentagon is one of the world’s largest office buildings. Daniel Slim

An Electron rocket launches the Baby Come Back mission from New Zealand on July 17, 2023. Rocket Lab Rocket Lab stock soared 8% Monday, building on a strong run fueled

The rupee weakened by 12 paise to close at 85.92 against the US dollar on Monday, hit by rising global crude oil prices and a firm greenback, even as the

A high-level committee has approved a framework to enable the transfer of surplus land and buildings held by telecom PSUs — Bharat Sanchar Nigam Ltd (BSNL), Mahanagar Telephone Nigam Ltd

Trending News

NEW DELHI: Non-fossil fuel sources now make up half of power generation capacity, a milestone the country has achieved five years ahead of the target set under its Nationally Determined

A high-level committee has approved a framework to enable the transfer of surplus land and buildings held by telecom PSUs — Bharat Sanchar Nigam Ltd (BSNL), Mahanagar Telephone Nigam Ltd

India’s Global Capability Centres (GCCs) could contribute as much as $0.5 trillion to the country’s gross value added (GVA) over the next decade, as India advances toward becoming a $10

India’s booming economy and rising number of high-net-worth individuals (HNIs) are set to drive more than 20% annual growth for wealth management firms over the next three years, global brokerage

The government has appointed R Doraiswamy as the new Managing Director and Chief Executive Officer of Life Insurance Corporation of India (LIC), the state-run insurance giant.A notification issued by the

Inflation in May 2025 stood at 2.82%. CPI inflation hits over 6-year low! Retail inflation or Consumer Price Index (CPI) inflation for the month of June 2025 has hit an

Rakesh Gangwal, family trust offload 5.72% stake in IndiGo worth Rs 11,564 crore

Word Count: 612 | Estimated Reading Time: 4 minutes


Rakesh Gangwal, family trust offload 5.72% stake in IndiGo worth Rs 11,564 crore

IndiGo operator InterGlobe Aviation promoter Rakesh Gangwal and the Chinkerpoo Family Trust reduced their stake by 5.72 per cent in the airlines through open market transactions, garnering Rs 11,564 crore. The bulk deal data on NSE showed that Gangwal and the trust, managed by Shobha Gangwal and JP Morgan Trust Company of Delaware, divested 2.21 crore equity shares.Rakesh Gangwal individually sold 22.10 lakh shares, equivalent to 0.6 per cent stake. The Chinkerpoo Family Trust separately sold nearly 1.99 crore shares across three transactions, representing 5.15 per cent ownership in the Gurugram-based company.The shares were sold between Rs 5,230.99-5,235.31 per share, totalling Rs 11,563.79 crore. Following these transactions, Gangwal’s holding decreased to 4.7 per cent from 5.30 per cent, whilst the trust’s stake reduced to 3.08 per cent from 8.23 per cent in IndiGo.The combined ownership of Gangwal and Family Trust has now decreased to 7.81 per cent from 13.53 per cent. Meanwhile, co-founder Rahul Bhatia, his family, and InterGlobe Enterprises collectively maintain a 35.74 per cent stake.The NSE data did not reveal the identities of the share purchasers. The company’s shares closed at Rs 5,307 on Tuesday, declining by 2.08 per cent.Previously in August 2024, the family trust sold 5.24 per cent stake for Rs 9,549 crore, following earlier sales in March. This divestment aligns with Gangwal’s February 2022 decision to reduce shareholding after disagreements with Rahul Bhatia regarding corporate governance.Since February 2022, both Gangwal and Shobha Gangwal have been selling their holdings. Notable transactions include a September 2022 sale of 2.74 per cent stake for Rs 2,005 crore, Shobha’s February 2023 divestment of 4 per cent for Rs 2,944 crore, and her August sale of approximately 2.9 per cent for over Rs 2,800 crore.Following disputes with Bhatia, Gangwal stepped down from InterGlobe Aviation’s board in February 2022, announcing plans to gradually reduce his equity stake over five years.





Source link

Most Popular Articles

Sign In

Welcome ! Log into Your Account