Gangwal family may sell shares worth INR 3,730cr via block deal: Report

IndiGo’s promoter Gangwal family is all set to sell its shares worth INR 3,730 crore through a block deal on 16 August, reported ET citing the term sheet.

According to the report, the family has put 15.6 million shares on the block with a floor price of ₹2,400 per share, which is a 5.8 per cent discount to the closing price of Monday.

The deal’s lenders are Morgan Stanley, JPMorgan, and Goldman Sachs. The Gangwal family owned 29.72 per cent of IndiGo by the end of June 2023, as per BSE records, however, promoters held a total of 67.77 per cent of the firm.

The family has put 15.6 million shares on the block with a floor price of INR 2,400 per share, that is a 5.8 per cent discount to the closing price of Monday. (Source: ET)