Gangwal family set to offload 3.1% IndiGo stake via block deals
Gurugram: The Rakesh Gangwal family is preparing to sell up to 3.1% of its stake in InterGlobe Aviation, the parent of budget airline IndiGo, through block deals, The Economic Times reported, citing reports.
The move continues a phased exit first announced in 2022.
The floor price for the sale has been fixed at ₹5,808 per share.
Since 2023, the Gangwal family has completed five major stake sales, including over 9% divested this year alone, raising more than ₹12,900 crore.
In May 2025, the family sold a 3.4% equity stake in IndiGo for ₹6,831 crore through a block deal.
Global investment banks including Goldman Sachs, Morgan Stanley, and JPMorgan have participated in these stake sales.
As of June 2025, promoters and promoter groups together held around 43.53% of IndiGo’s share capital. Rakesh Gangwal’s direct stake stands at 4.73%, while The Chinkerpoo Family Trust holds about 3.08%.
On the financial front, IndiGo reported a 20% year-on-year fall in net profit for the first quarter, dropping to ₹2,176 crore despite a 4.7% rise in revenue.
The dip was mainly attributed to higher fuel costs, currency headwinds, and external pressures.
Still, operational performance remained strong, with IndiGo recording a passenger load factor of 84.2% and on-time performance of 87.1%, both ahead of industry averages.
Looking ahead, the airline remains upbeat on demand growth. It expects early double-digit growth in available seat kilometres (ASK) in FY26.
IndiGo had a fleet of 439 planes as of now, of which 50 remain grounded. About 50 new aircraft are slated to join in FY26.
International operations are expected to be a key growth driver over the next five years. IndiGo projects 40% of its ASK in FY30 will come from overseas markets, compared with 28% in FY25.
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