On Tuesday, Reuters reported that Rakesh Gangwal, co-founder of India’s largest low-cost airline IndiGo $INDIGO.NS , plans to offload up to 5.7% of his stake in the carrier through a block deal that could raise as much as $1.4 billion USD. This strategic move has sparked investor attention given Gangwal’s historic influence over the company and IndiGo’s dominant role in India's domestic aviation sector.

Rakesh Gangwal, co-founder of India’s leading airline IndiGo $INDIGO.NS, has initiated a significant equity sale alongside the Chinkerpoo Family Trust. Together, they aim to secure up to 803 million USD by offering a 3.4% share in the air carrier. The deal involves offloading 13.2 million shares at a minimum price of 5,175 INR (61 USD) each, presenting a 4.5% markdown relative to the previous closing price of 5,420 INR. This strategic move represents Gangwal’s third structured divestment since March 2024, following block deals exceeding 2 billion USD.