 "Gangwal, The Chinkerpoo Family Trust may sell ₹7,000 crore stake in IndiGo")
IndiGo holders Rakesh Gangwal and The Chinkerpoo Family Trust, offered about 12.1 million shares at floor price of ₹5,808 each, according to terms seen by Bloomberg.
Proceeds of the offering by Rakesh Gangwal and The Chinkerpoo Family Trust will stand at around ₹7,028 crore or $801m, at offer floor price. The settlement is expected to take place on August 29.
Placement agents include Morgan Stanley India Company, Goldman Sachs (India) Securities and J P Morgan India. The price represents 4 per cent discount to the last close of 386.5 million shares outstanding (196.1 million-share float) as of August 26.