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IndiGo parent may witness another $1B block deal
13 Jun 2025

InterGlobe Aviation, the parent company of India's largest airline, IndiGo, is likely to witness another major block deal.

This time, it will be led by Rahul Bhatia, the co-promoter and Managing Director of InterGlobe Enterprises.

The company is planning a sale of up to 4% stake in InterGlobe Aviation through this deal and is looking to raise nearly $1 billion (₹8,600 crore), according to CNBC TV18.

InterGlobe Aviation's shares have dropped nearly 6% to ₹5,175 following the news.

Bhatia had sold 2% stake in June 2024
Fundraising goal

Currently holding a 35.7% stake in the airline, InterGlobe Enterprises' share would reduce to 32% post-transaction.

If successful, it would be Bhatia's second sale in just over a year.

In June 2024, Bhatia had sold a 2% stake in InterGlobe Aviation for ₹3,367 crore at an average price of ₹4,362 per share.

IndiGo shares have surged over 20%
Market performance

Since Bhatia's last sale, IndiGo shares have surged over 20%. This is due to strong earnings, capacity expansion, and improving domestic and international demand.

Market observers believe this latest deal could take advantage of that rally, especially with the stock trading near record-high levels.

However, when contacted for confirmation and comments on the potential block deal, IndiGo declined to comment, CNBC TV18 reports.

Rakesh Gangwal has been steadily reducing his stake
Stake sales

Rakesh Gangwal, another co-founder of IndiGo, has been steadily reducing his stake since announcing his exit from the company in 2022.

Over three years, he has raised over ₹40,000 crore through several stake sales.

His holding has now dropped to below 8%, a far cry from the 36.6% stake he held when IndiGo was listed.