Rakesh Gangwal, the co-founder of IndiGo, has sold almost 2.75% of his shares amounting to INR 2,005 crore. Details of the buyers were not provided by the National Stock Exchange; however, shares of IndiGo fell by a big margin end of the day following this transaction. After his fallout from IndiGo, Gangwal has said he would pare back his holding over the next five years. He said: “I am a long-term shareholder for more than 15 years and it is only natural to someday think about diversifying one’s holdings. Accordingly, my current intention is to slowly reduce my equity stake
This content is restricted to site members.
If you are an existing user, please login below.
New users may register below.