Indigo co-founder Rakesh Gangwal selling 5.8% stake: Deal worth ₹11,928 crore,

Rakesh Gangwal, co-founder of InterGlobe Aviation, the company that operates Indigo, is selling his 5.8% stake in the company through a block deal. According to Moneycontrol, on Tuesday, May 27, a deal of 2.26 crore shares was done at Rs 5,260.5 per share, whose total value is Rs 11,928 crore.

Initially the value of this deal was Rs 6,831 crore, but later it was increased to more than Rs 10,000 crore due to strong demand. Earlier the floor price for this deal was fixed at 5,175 per share. Gangwal resigned from Indigo board in 2022

Gangwal resigned from the board of InterGlobe Aviation in 2022. Then he had said that he would reduce his stake in the company little by little (phase wise). Despite stepping down from the board, Gangwal remains one of the largest shareholders of Indigo.

Indigo’s stock fell 2%

After the block deal, InterGlobe Aviation’s stock fell nearly 2% to trade at ₹ 5,315. The stock has gained 16% so far in 2025. The company’s stock has given a return of 25% in a year.

The airline made a profit of 3000 crores

InterGlobe Aviation, the company that operates Indigo, made a net profit (consolidated net profit) of Rs 3,068 crore in the fourth quarter of FY 2024-25. This is 62% more on an annual basis. It was Rs 1,895 crore in the same quarter last year. The company has made this profit due to increasing demand in air travel.

In the January-March quarter, IndiGo’s revenue from operations grew 24% year-on-year to Rs 22,152 crore. In the same quarter a year ago i.e. the fourth quarter of FY24, the company’s revenue was Rs 17,825 crore. IndiGo released its January-March quarter and annual results on Wednesday (May 21).