InterGlobe Aviation shares fall nearly 1 pc ahead of board meet

Shares of InterGlobe Aviation, the parent company of IndiGo, fell nearly 1 per cent Thursday ahead of its board meet on Friday where the issues between the promoters are likely to be discussed.

The scrip declined 0.55 per cent to close at Rs 1,458.65 on the BSE. Intra-day, it fell 1.37 per cent to Rs 1,446.55.

On the NSE, shares of the company dipped 0.41 per cent to close at Rs 1,459.20.

The company's scrip has been on back foot ever since differences between the promoters got public last Tuesday. It has fallen by nearly 7 per cent since July 9.

Differences between the promoters of the country's largest airline IndiGo came into public last Tuesday with Rakesh Gangwal alleging serious governance lapses by co-founder Rahul Bhatia.

Gangwal had sought Sebi's intervention into alleged corporate governance lapses at the company.

The company had informed the BSE last Friday that a meeting of the board of directors is scheduled for July 19, inter alia, to consider and approve unaudited standalone and consolidated financial results for the quarter ended June 30, 2019.

InterGlobe Aviation, which got listed in 2015, has come under intense regulatory scanner and there are indications of multiple violations of Sebi norms.