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Indigo s Rakesh Gangwal Likely Seller As 6 7% Equity Worth Rs 7,825 Cr Change Hands

Indigo s Rakesh Gangwal Likely Seller As 6 7% Equity Worth Rs 7,825 Cr Change Hands
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Sensex falls over 200 pts, Nifty50 down to 19,349; IT stocks jump, HDFC Bank drags

HDFC Bank, Hindalco, Grasim, Bajaj Finance, Britannia, IndusInd Bank, Eicher Motors, Tata Steel, HDFC Life, ICICI Bank, and Tata Motors were the top losers in morning trade.

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IndiGo shares drop over 4% in early trade Here s why

At around 9:34 am, shares of Interglobe Aviation were down 4.20 per cent at Rs 2,441.95 apiece.

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Gangwal family to sell IndiGo stake worth $450 million via block deal on Wednesday

Indigo Airlines promoters, the Gangwal family, are selling $450 million worth of shares in a block deal through bankers Morgan Stanley, JPMorgan, and Goldman Sachs. The family is offering 5.6% of its shares at a floor price of INR 2,400 ($32.27) per share. Indigo had a net profit of INR 3,090 crore ($414.98 million) in Q1, with a revenue of INR 17,160 crore ($2.30 billion). At the end of June, it had a fleet of 316 aircraft and a 36.66% stake held by the Gangwal family.

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IndiGo shares fall for 2nd day; co denies reports of co-founder selling stake

IndiGo said the company has not received any information nor has the company been made aware by the co-founder of their intention to sell their stake.

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