IndiGo Share Sale: Rakesh Gangwal Selling 3.4% Stake, Aims to Raise ₹6,831 Crore

Rakesh Gangwal, co-founder and promoter of IndiGo, India’s largest airline, is preparing to sell a 3.4% stake in the company. Through a block deal, Gangwal aims to raise approximately ₹6,831 crore (around USD 803 million). The base price for the shares has been set at ₹5,175 each, which is 4.6% lower than Monday’s closing price of ₹5,424. Leading investment banks such as Goldman Sachs, Morgan Stanley, and J.P. Morgan are managing the share sale.

Gangwal resigned from IndiGo’s board in February 2022 and had then announced his plan to gradually offload his entire stake in the company over the next five years. This sale marks the fifth major phase in that divestment strategy. Similar block deals were carried out by the Gangwal family in March 2024 and August 2025. Currently, Gangwal and related entities hold a 13.53% stake in IndiGo.

While this share sale may have a short-term impact on IndiGo’s stock price, it is not expected to significantly affect the company’s overall operations.