IndiGo stock slips ~3% as promoters pare 5.8% stake

27 May 2025 , 01:53 PM

InterGlobe Aviation witnessed more than 3% decline in its shares on Wednesday morning session as co-founder Rakesh Gangwal trimmed a 5.8% stake consisting of 2.26 Crore shares. The transaction took place through a block deal. The aggregate value of the deal is ₹11,928 Crore. 

This deal shows another step from the Gangwal family to slowly exit the airline’s holding company.

The floor price for the stated transaction was ₹5,260 per share. This reflects a 3% discount on the last closing price. Goldman Sachs, Morgan Stanley, and JPMorgan were the brokers to this deal.

Gangwal stepped down from the board of InterGlobe Aviation in 2022. At that time, he stated that he plans to reduce his stake in phases. Even though he has stepped out of the boardroom, he remains one the largest shareholders in IndiGo.

The business announced a net profit of ₹3,067.50 Crore for the quarter ended March 2025. This marks its second quarter with strong numbers, mainly on account of robust domestic travel demand. In the previous corresponding period, the business posted a net profit of ₹1,894.40 Crore.

At around 12.54 PM, IndiGo was trading 2.08% lower at ₹5,307 per piece, against the previous close of ₹5,420 on NSE. The counter slipped to an intraday low of ₹5,230.50.

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