IndiGo co-founder to raise $450 million via block trade

One of the co-founders of Interglobe Aviation, (parent of IndiGo), Rakesh Gangwal is planning to raise $450 million via a block trade in the ongoing stake reduction exercise of the co-founder of Indigo Airlines, reports Moneycontrol. In September 2022, the family sold a tranche of 2.8% worth INR 20bn and in February, sold a 4% stake for INR 29bn. Rakesh Gangwal stepped down from the board of Interglobe Aviation in February 2022 and the family holds a 29.72% stake as per the latest stock exchange disclosures. When he quit the board, Gangwal said the family would dilute its stake in