New Delhi: InterGlobe Enterprises (IGE) group MD Rahul Bhatia on Tuesday sold about 2% of his stake (77.2 lakh shares) in IndiGo for about Rs 3,292 crore in a block deal to fund IGE’s hospitality and other businesses. Bhatia will remain IndiGo’s largest shareholder and will continue as promoter-MD of the company, driving the “strategic direction of IndiGo.”
IGE shares closed 4.3% lower at Rs 4,368 on BSE on Tuesday. About 77.2 lakh shares of InterGlobe Aviation (IndiGo) “were crossed via a block trade on behalf of IGE Tuesday on the Indian stock exchanges,” IGE said in a statement, adding, “The proceeds will be utilised for scaling up IGE’s hospitality and other businesses it is incubating, as well as for general…
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