New Delhi: Rakesh Gangwal, co-founder of IndiGo Airlines, is looking to offload 3.4% of his and his family’s stake in the company, as per a Reuters report. This transaction is being executed through the Chinkerpoo Family Trust, controlled by Gangwal’s family. The block deal is estimated to be worth almost $1.4 billion, as Gangwal is gradually paring down his stake after he resigned from the board of IndiGo’s parent company InterGlobe Aviation in 2022 after corporate governance disputes with co-founder Rahul Bhatia.
Gangwal had earlier sold a 5.83% stake in April 2024, and another 5.83% in August that year. In 2015, Gangwal and his family owned 32.53% of the company.
India’s largest airline, IndiGo, has been an investor favourite, even as the aviation sector has seen its ups and downs over the years. IndiGo airline’s parent company InterGlobe Aviation’s stock has gained almost 18% this year, on account of booming demand and a 62% rise in net profit for Q4 due to increased demand due to the Maha Kumbh Mela. The company also reported a 24% rise in revenue from the same quarter last year, along with a corresponding 19.6% increase in passengers.
“We are proud to report healthy financial performance for this quarter and the financial year 2025 as we reported a net profit of INR 72,584 million. Our sustained performance is the result of record passenger volumes, operational efficiencies, agility and commitment demonstrated by IndiGo employees. A big thank you to our 118.6 million customers in FY25 for placing their trust in us and to all my IndiGo colleagues for their great work and relentless dedication.
As we build on this momentum, we will continue to focus on cost leadership and further Internationalization with the start of our European operations.” Peter Elbers, InterGlobe Aviation’s CEO, said in a press release.
Global Investment Company, Jeffries has maintained a ‘Buy’ rating on IndiGo, as it looks to expand its routes and currently holds about 61% of the Indian domestic aviation market.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Readers should conduct their own research or consult with a qualified financial advisor before making any investment decisions.
