Jun 11, 2024 10:03 AM IST
The block deal was executed at an average price of ₹4,406 apiece and was worth a total of ₹3,689 crore.
Shares of InterGlobe Aviation dipped 4 per cent after a block deal involving 83.7 lakh shares- 2.2 percent stake in the company- took place on the exchanges. The block deal was executed at an average price of ₹4,406 apiece and was worth a total of ₹3,689 crore, Moneycontrol reported.
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Although, parties involved in the transaction were not identified, the report added that the holding company of Rahul Bhatia family, InterGlobe Enterprises Private, was looking to cut around 2 percent stake worth $394 million in the carrier via block deal.
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Rahul Bhatia and his family members are promoters of InterGlobe Aviation. They hold a 37.75 per cent stake in the carrier through their holding company InterGlobe Enterprises.
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“This is the first time in many years that he is looking to unlock value and pocket some returns,” the outlet reported citing a source in the know.
As of 9.24 am today, over 9.98 lakh equity shares of IndiGo, amounting to ₹3,493.41 crore were traded on BSE and more than 16.57 lakh equity shares worth more than ₹733.94 crore exchange hands on the National Stock Exchange (NSE).
