InterGlobe Aviation Ltd., the parent company of IndiGo, is set to witness another major promoter stake sale. According to a term sheet accessed by NDTV Profit, co-founder Rakesh Gangwal and the Chinkerpoo Family Trust are preparing to divest shares worth nearly ₹7,027.7 crore through a block deal.
The shares will be offered at ₹5,808 per piece, about 4% lower than the previous closing price of ₹6,050. In total, the transaction involves the sale of up to 1.21 crore shares, which translates to a 3.1% stake in the country’s largest airline. Global investment banks Goldman Sachs, JPMorgan, and Morgan Stanley are acting as managers for the deal.
As of June, IndiGo’s promoters collectively held a 7.8% stake in the company. Of this, Gangwal directly owned 4.73%, while the Chinkerpoo Family Trust — managed by Shobha Gangwal and JP Morgan Trust Company of Delaware — controlled another 3.08%.
This is not the first time Gangwal has pared his holdings. In May 2025, the Gangwal family offloaded around 3.4% of their stake. The divestment is part of Gangwal’s broader plan to gradually reduce his equity in the airline. He stepped down from IndiGo’s board of directors in February 2022, announcing that he would steadily sell his stake over a five-year period.
So far, the promoter has already raised nearly ₹45,300 crore from various stake sales since his resignation. Following the latest transaction, the Gangwal Group’s residual holding of 4.78% will still be valued at approximately ₹11,169 crore.
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